Aeris Environmental (ASX:AEI) exceeds revenue guidance on sanitiser sales

• Aeris Environmental’s (AEI) revenue has exceeded its revenue guidance expectations by $1.4 million, thanks to its Aeris Active sanitiser sales
• The company’s unaudited review of its revenue for the 2020 financial year indicated it could bring in as much as $14.4 million, which exceeds its original guidance of $13 million
• The sanitiser is now in stock in 26 Costco stores across Japan, where the company’s opening order was valued at $260,000
• Aeris Active has also received approvals for the sanitiser from Europe, following relevant European standard testing
• Aeris is down 0.87 per cent on the market this afternoon and is trading for 57 cents per share

Aeris Environmental’s (AEI) revenue has exceeded its revenue guidance expectations by $1.4 million, thanks to its Aeris Active sanitiser sales.

The company’s unaudited review of its revenue for the 2020 financial year indicated it could bring in as much as $14.4 million, which exceeds its original guidance of $13 million. Aeris said the half-year from January to June was very profitable.

Aeris Active was listed for sale by Guardian Health and Beauty, which is the pharmacy division for Singapore’s Dairy Farm International Holdings. The initial orders cover 105 stores across Singapore.

Costco in Japan has over 26 warehouses and each are selling Aeris Active. The company’s opening order is valued at $260,000. As a result, Aeris said it worked closely with Costco to make sure its marketing meets the Japanese requirements.

“The opportunity with Costco is significant and Aeris aims to expand its product offering among the 787 company-owned warehouse clubs globally,” the company said.

In May, the company announced a strategic alliance with a consortium of Chinese businesses, including Shanghai Taitrust Industrial Group and Shanxi Tond Chemical. The initial stock order is expected to be worth over $1 million and will be shipped in the current quarter.

Aeris Active has also received approvals for the sanitiser from Europe, following relevant European standard testing.

Aeris is down 0.87 per cent on the market this afternoon and is trading for 57 cents per share at 1:02 pm AEST.