Pacific Safety Products has Stellar Year with Net Income Doubling

Pacific Safety Products (TSX.V: PSP) Canada’s leader in the production, distribution and sale of body armour products, posted a revenue increase of $2.4 million or 13.7% in fiscal 2016 compared to 2015 plus a lift of 17.5% in working capital. Although PSP’s gross margin decreased by 4.3%, their reported net income for the year nearly doubled. With PSP’s shortened delivery schedule and new Canadian military order of $11.2 million, PSP is expecting a very robust fiscal 2017. The Company is clearly showing excellent growth from their US operations. Click here for the Q4 and YE 2016 News Release.