Wildpack Beverages, a Canadian beverage manufacturing and packaging enterprise has released their unaudited Q2 2022 Financial Reports, ending June 30, indicating revenue growth of 10 per cent to US$8.91 million compared with the Q2 2021 earnings of $8.14 million.

Wildpack's Board of Directors has appointed KPMG LLP as their independent auditor, effective August 29, 2022. Based in the Netherlands, KPMG LLP is a transnational network of professional firms providing tax, audit and advisory services. It is one of the Big Four accounting organizations globally.

Wildpack provides sustainable aluminium can filling, packaging, brokering, decorating and sleeve or label printing services to brands all around the United States, along with looking after the logistics of its products.

The company's production volume for Q2 increased by 180% to 50.75 million cans, compared to the production rate of Q1 2021, which yielded 18.22 million cans.

The Brokering Division signed a 2.5-year supply deal with a big printed can customer for which the annual supply resulted in almost 55 per cent of the company's cans sold via land and sea in 2021.

The filling production yields averaged 87 per cent, while the decorating production yields averaged 99 per cent.

The average plant utilization rate came in at 26 per cent, which is a 64 per cent hike from the data for Q1 2022.

The first half of 2022 witnessed revenue growth of 20 per cent to US$17.44 million from the US$14.57 million earnings of first-half 2021.

Production volume also increased by 180 per cent to 95.65 million cans than the production rate of first-half 2021, which was 34.17 million cans.

The Chief Executive Officer at Wildpack, Mitch Barnard, quoted: "We committed to organic growth entering the second quarter, and the Wildpack team made significant strides towards achieving those goals this quarter. We remain focused on taking the steps necessary to earn more from and deliver more to our customers, reduce costs and improve per can economics. Our second quarter results and the post-quarter announcement of our partnership with Ball Corporation are indications of the impact of that focus."

The appointment of KPMG as the new auditor was based on thorough research by Wildpack's Board of Directors and the Audit Committee.

KPMG will take PricewaterhouseCoopers LLP or PWC's place with the latter resigning, effective June 1, 2022.

Wildpack's Audit Committee has received the Notice regarding the change of auditor under National Instrument 51-102, along with official letters from KPMG and PWC. All the documents would be filed on SEDAR.