Coffee Holding: Rises on quarterly profit

Coffee Holding

17/03/2021 15:31

** Shares of coffee roaster  JVA.O  rise 8.1% to $5.37
    ** Coffee Holding posts a profit of $677,312 in the three
months ended Jan. 31, compared with a loss of $599,848 a year
earlier, as it cut costs  urn:newsml:reuters.com:*:nGNX3PWLN3
    ** JVA expects to see a return of positive
quarter-over-quarter revenue growth on reopening of businesses
and acquisition of new customers
    ** JVA also says it is no longer experiencing a downward
pricing pressure on coffee, which had hurt its margins and
forced it give more discounts
    ** CEO Andrew Gordon also expects to roll out CBD-infused
single serve cups during the second calendar quarter of 2021
    ** CBD, or cannabidiol, is a non-psychoactive compound
derived mainly from hemp and is widely advertised to have a
calming effect
    ** Shares up 40% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com))