EQS-News: Go North Group AB / Key word(s): Quarter Results
Go North Group AB (Publ) announces its Quarter 3, 2022 financial report
Go North Group AB (publ) ("Go North" or "The Group") is delighted that in Quarter 3, we proved that we could execute against our previously communicated strategy, by delivering the first reported profitable month in September 2022.
As previously announced, Go North completed a new equity round among existing investors of approximately mSEK 75, with an open and ongoing new share issue for co-investors of mSEK 150 in aggregate is a great step forward and will put Go North in a stronger financial position.
Go North knows how to source and acquire great Amazon brands, at good prices, and has the right team in place to take care of continued organic profit growth post-acquisition.
Despite increasing inflation and cost of living, the timing for Go North from a macroeconomic outlook comes with big potential. The Group's continued successful fundraising, trending decrease in acquisition
multiples, and less competition among acquirers in the Amazon space, present a great opportunity for positioning Go North ahead of the competition.
In Go North´s strive towards operational excellence, over the last month, we've grown and strengthened the team to approximately 30 people, with a significant increase in Amazon seller and ex-aggregator experience.
In summary, whilst Go North remains a learning organization, we're very pleased with the progress of the quarter.
The Group continues to demonstrate our ability to raise, deploy and prove. However, the team is also driven and excited by the potential opportunities in Q4 and beyond.
Johan Hallenby, CEO/Founder
Tel: +46 735 070707
Go North Group AB Q3 2022 (PDF):
This information is information that Go North Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19:00 CEST 11 of November 2022.
About Go North:
Go North Group AB (publ), acquiring and scaling Amazon FBA brands and has in just ten months built a portfolio of 24 brands, diversified across a variety of Amazon categories, ranging from pets, sports and outdoors to kitchen supplies. In parallel, Go North has now built a team of nearly 30 people, with several key hires coming with Amazon Aggregators and marketplace experience, spread across Europe and the US. Continued investments in technology and data are business critical and within the Go North DNA, to ensure the strengthen our of processes, make data-driven and informed decisions to create future repeatable and scalable profit growth for the group.
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11.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
Go North Group AB
Norra Allégatan 5
413 01 Göteborg
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