Bubs Australia Ltd (ASX: BUB) released its half year financial report to investors today, showing a loss of $3.89 million.
Bubs Australia is an infant formula company that is based from goat milk.
Here are some of its highlights compared to last year:
- Revenue increased by 86% to $3.25 million
- Day to day trading, or EBITDA, decreased by 11% to a $3.86 million loss (What does EBITDA mean?)
- Profit decreased by 10% to $3.89 million
- Cash on hand increased by 64% to $8.69 million
Bubs Australia said that its infant formula will be ranged in Australia’s largest supermarket chain, Woolworths Limited (ASX: WOW). The company also said that it has commenced a Caprilac fresh milk trial in selected Aldi stores.
Management pointed to the domestic footprint more than doubling since listing as a source of optimism.
Bubs Australia is building strategic foundations with key partners in China, which is establishing a platform for accelerated growth for the company.
The Bubs Australia share price declined by 4.74% today according to Google Finance.
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