QualityStocks.net News – Nascent Foodservice, Inc. (NCTW.OB) Announces Fourth Quarter and Full Year 2007 Results

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Nascent Wine Co. Inc. (OTCBB: NCTW) (dba Nascent Foodservice) is one of our highlighted companies this month. The company is focused on acquiring the most profitable and well positioned distributors in Mexico with the best food and beverage portfolios in the country. Nascent is currently servicing over 240,000 sales points including supermarkets, convenience stores and foodservice accounts like Wal-Mart, Costco, Soriana, Comercial Mexicana, AM/PM, 7-ELEVEN, OXXO and many more.

In our client’s news yesterday,

Nascent Foodservice reported its fourth quarter and full year results ended December 31, 2007, as well as 2008 growth opportunities. Highlights of 2007 included: the addition of 4,700 employees; the addition of more than 6,800 new retail accounts, including Wal-Mart, Sam’s Club, Costco, HEB, Soriana, Gigante, Smart and Final; an expanded private label / proprietary product line totaling more than 200 items; and the completion of three major acquisitions.

Commenting on the results, Sandro Piancone, CEO of Nascent Foodservice, stated, “We entered 2007 with a goal of expanding our platform to market and distribute food and food related products throughout Mexico and based on our record fourth quarter and full year 2007 revenue growth and infrastructure expansion, we achieved this goal. During the full year of 2007, we expanded the portfolio of products we distribute (branded and private label/propriety items) by over 50%, increased our distribution centers from 4 to 21 and expanded our service footprint to cover all of Mexico’s major metropolitan areas, making Nascent the first and only nationwide distributor in Mexico.”

“We are the first nationwide food distributor in Mexico, working with all the leading accounts like Wal-Mart, Costco, Soriana, Comercial Mexicana, AM/PM and 7-ELEVEN. Because of our position and expertise in the Mexican market we are able to attract leading brands such as Miller Beer, Nestle, Haagen-Dazs and General Mills that have entrusted us to distribute and market their products,” he continued.

Looking forward to the New Year, he stated, “In 2008, we expect to improve gross and operating margins throughout the year by leveraging our infrastructure, continued organic growth in branded and private label products and potential strategic acquisitions. The foodservice industry in Mexico is highly fragmented with over 25,000 regional food distributors addressing the $46 billion foodservice market. Because of our first mover advantage, management team and distribution and marketing platform we have created, we are in a very strong position to exploit this tremendous growth opportunity for many years to come.”

Net sales for Q4 2007 increased 500% to $17 million compared to Q4 2006, while gross profit for the year increased to $6.8 million, a near 1,000% increase over 2006. Gross margin increased to 16.1% in 2007 compared to the 14.9% reported for 2006. The Company is very excited about its long term growth prospects and believes that both its gross and operating margins will continue to improve.

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