Btab Ecommerce Group Reports Second Quarter FY 2023 Results

SYDNEY, Australia, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Btab Ecommerce Group, Inc., (OTC: BBTT) (“Btab” or the “Company”), today announced its financial results for the second quarter ended June 30, 2023.

Btab is an e-commerce company that operates through its network in Australia, Asia, United States and United Kingdom, and its affiliated company and controlling shareholder is the e-commerce company, Btab Group Inc.

Company Financial Highlights

Financial Results for the Three Months Ended June 30, 2023:

  • Operating Income was $1,475,954
  • Gross Profit was $605,964
  • Net Income from Operations was $214,358

CEO Comment and Business Progress

Binson Lau, the Company’s Chief Executive Officer, stated, “We are delighted with our second quarter results, especially considering this is the first full quarter in which we are operating as a publicly traded company. Our proven business model continues to attract new ecommerce retailers to our retailer network, and our strategy to expand is on pace with our expectations. The continuous addition of small businesses to our network enables us to expand into new geographical regions and grow our ecommerce retail distribution network. While our network of ecommerce retailers sells both products owned and sourced by us, we seek to increase the sales of products owned by us through our ecommerce retail distribution network because the margins are higher. Our warehouses and showrooms are integral to increasing the sales of these products because we believe our retailers will order more of our owned products once they see them in our warehouses and showrooms, and we continue to evaluate adding new locations if and when needed.”

“One of the Company’s core strengths is the support and infrastructure we provide those seeking to start an online business or established online businesses seeking to expand. We provide a quick path to opening an online store, establishing a social marketplace, building an ad network, and handling all the logistics of delivering the products and managing returns. This enables those in our ecommerce retail distribution network to provide superior service to their clients,” concluded Mr. Lau.

About Btab Ecommerce Group, Inc.

Btab Ecommerce Group is an e-commerce company that operates through its network in Australia, Asia, United States and United Kingdom. It provides affordable ecommerce services and supplies technology and products to small businesses to allow them to compete in an underserved market segment. The Company seeks to expand its reach into Europe and the Americas where it intends to provide small businesses with products and services generally not currently commercially available to them. The Company believes the e-commerce growth in Asia alone will be significant well into the next decade and beyond as increasing numbers of internet users take advantage of online shopping and increasing spending power.

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Media Contact

Mr. Binson Lau, CEO