Netcapital Inc. Expects Significant Growth in Net Sales and Operating Income for Fiscal Year 2023

Netcapital Inc.(NCPL), a leading financial s ervices company, has provided preliminary estimated ranges of its financial results for the fiscal year ended April 30, 2023. While the audited consolidated financial statements are not yet available, management has presented these estimates based on currently available information. The preliminary data indicates a substantial increase in net sales and a positive shift in operating income compared to the previous fiscal year.

Strong Growth in Net Sales

For fiscal year 2023, Netcapital Inc. anticipates net sales in the range of $8.3 million to $8.5 million, representing a remarkable increase of approximately $2.9 million or 53%. This surge in net sales is primarily attributed to a significant rise in consulting fees. Compared to the net sales of $5.5 million in fiscal year 2022, the estimated growth demonstrates the company's ability to capture new business opportunities and expand its market presence.

Improved Operating Income