Quickly closes in on Management’s 20%
Organic Growth Estimate For 2019.
Cleveland, OH -- February 13,
2019 -- InvestorsHub
NewsWire
-- Innovest Global, Inc. (OTC Pink:
IVST): Already Just Shy Of Management's 20% Organic
Growth Estimate For 2019 After Strong Performance From ANS
Subsidiary
Ohio
is an extremely important component of the Midwest. Known as the
"Buckeye State," Ohio has a rich history of success in business,
sports, and politics. However, one aspect of Ohio that does not
receive nearly enough attention is its bustling economy. One
particular
area of
strength within the Ohio economy that has been gaining steam
recently is its construction industry.
According to preliminary
numbers from the
United States Bureau of Labor Statistics, Ohio's construction payroll
data for December 2018 grew 6.80% from November 2018. This
month-over-month growth in construction employment growth in Ohio
marks one of the highest monthly gains in all of 2018.
This growth in construction
employment is very important because it directly tells us that
construction companies and contractors in Ohio are seeing an uptick
in business and need additional workers to help meet the increase
in demand for more projects to be completed. Traditionally
speaking, businesses tend to be fairly conservative with their
employment numbers. Meaning, businesses are not going to go out and
hire additional employees unless they are absolutely
needed.
The strong
construction employment numbers and overall industry data is a boon
for businesses in the construction and building materials supply
industry. One such Ohio-based company that should be a direct
benefactor from the state's construction boom is
Innovest
Global, Inc. (OTC
Pink:
IVST).
In late January 2019,
Innovest
Global, Inc. (OTC
Pink: IVST) released an
annual letter to shareholders detailing of
guidance for the year ahead and recapping accomplishments from
2018. The Ohio-based conglomerate ended 2018 with an annual revenue
run-rate of $40 million. This is strong growth, considering
Innovest
began 2018 with
revenues of only $58,000. The company's success has also translated
into greater opportunities for its local economy, as its employee
count has grown from seven to start off 2018, to now a current
total of 75 employees.
IVST:
Forecasting 20% Organic Growth, $50 Million Revenue in
2019
Management estimates another
strong year ahead for Innovest Global, as the annual letter
forecasts 20% organic growth from operations and revenue of $50
million in 2019. Despite strong double-digit estimates for growth,
it appears the forecast was very conservative after the company
reported an update from its Authority National Supply (ANS)
subsidiary.
On
February 8, 2019, Innovest Global announced that ANS has
added four new members during January and early February 2019. The
business is expected to generate an additional $5.2 million in
revenues for 2019, which represents organic revenue growth of
17%.
This means that roughly,
through the first 39 days of 2019, Innovest Global is already just 3% shy
of meeting its full-year organic growth estimates. To put it
another way, Innovest Global now has roughly ten
and a half months to produce the additional 3% revenue growth to
meet its goals. Given Innovest's
2018 results and
clear capability of producing revenue growth, there is a very high
chance the company will have no problem at all meeting and
exceeding that additional 3% growth.
Overall, Innovest Global's business model continues to
shine, as the growth machine continues churning away. The company's
20% organic revenue growth target for 2019 is already nearly met
after solid performance from its one subsidiary within its
Construction & Building Materials division. In other words,
there are still a lot of other components within
Innovest's
conglomerate
model that are able to
help continue
pushing organic growth forward in 2019.
About
Innovest
Global,
Inc.
Innovest
Global, Inc. (OTC
Markets: IVST)
is a conglomerate with operations in commercial and industrial
products and services, energy, biotechnology, and health services.
Our primary growth strategy is to acquire existing companies in a
select few industries, and
attract new
customers in cost effective ways. Currently, we have a Commercial
& Industrial Division, a Biotechnology Division, and a
Construction & Building Materials Division.
For more information, please
visit: http://www.innovestglobal.com,
and follow us on Twitter and Facebook@innovestglobal.
Forward-Looking
Statements
This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements other than
statements of historical facts included in this press release are
forward-looking statements. These statements relate to future
events or to the Company's future financial performance, and
involve known and unknown risks, uncertainties and other factors
that may cause actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Investors should not
place any undue reliance on forward-looking statements since they
involve known and unknown, uncertainties and other factors which
are, in some cases, beyond the Company's control which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
the Company's current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions
relating to operations, results of operations, growth strategy and
liquidity. Such risks, uncertainties and other factors, which could
impact the Company and the forward-looking statements contained
herein are included in the Company's filings with the OTC Markets.
The Company assumes no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the
reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future.
Contact
Information
Corporate
Office:
(216)
815-1122
info@innovestglobal.com
Twitter@innovestglobal
Investor
Relations:
Hayden
IR
(917)
658-7878
hart@haydenir.com
