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- Bubs Australia (BUB) predicts material increase to gross revenue forecast for the 2022 financial year
- Following a string of new deals in the US, and strong sales momentum in China, Bubs anticipates a 100 per cent increase to its 1H22 Underlying EBITDA of $1.2 million
- If scheduled operations proceed without disruption, BUB could see its gross revenue reach over $100 million for the full financial year
- The estimated figures will be confirmed in the company’s quarter four activities report and 4C Cashflow Statement to be released in July
- Shares last traded at 60.5 cents on June 16
Bubs Australia (BUB) has predicted it will materially exceed its gross revenue forecast for the 2022 financial year.
Following a string of new deals in the US, and strong sales momentum in China, the company anticipates a 100 per cent increase on the first half of this financial year’s underlying earnings before interest, tax, depreciation and amortisation of $1.2 million.
If scheduled operations proceed without disruption, BUB could see its gross revenue reach over $100 million for the full financial year.
Most recently Bubs was tasked with exporting 1.2 million tins of its infant formula to the US amid critical supply shortages, a task which Founder and CEO Kristy Carr said is likely to change the industry landscape in the US.
“This has significantly accelerated our entry to one of the largest infant formula markets in the world, and we look forward to introducing more American families to Bubs’ full range of products,” Mrs Carr told investors today.
At the same time, the company continues to supply its Australian retailers and export markets to meet ongoing consumer demand.
Bubs reports that sales of all three of its infant formula product ranges are also performing strongly in China.
The estimated figures will be confirmed in the company’s June quarter activities report and 4C Cashflow Statement to be released in July.
Company shares last traded at 60.5 cents on June 16.
