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- Biome Australia (BIO) doubles its sales revenue for the third quarter of its 2023 financial year compared to the same time period last year
- The company posts third-quarter sales of $1.84 million, up 99 per cent on the March 2022 quarter, with year-to-date sales surpassing $5.2 million and up 91.4 per cent on last year
- Biome says its sales growth was fueled by strong company performance in the pharmacy and practitioner channels
- The company says it is on track to reach $7 million in full-year sales revenue, which would represent a 126 per cent increase on FY22 sales
- BIO shares are trading at 7 cents per share at market close
Biome Australia (BIO) has doubled its sales revenue for the third quarter of its 2023 financial year compared to the same time period last year.
The company posted third-quarter sales of $1.84 million, up 99 per cent on the March 2022 quarter, with year-to-date sales surpassing $5.2 million and up 91.4 per cent on last year.
BIO said its sales growth had been fuelled by its strong performance in the pharmacy and practitioner channels.
The company said March marked the best quarter to date for sales revenue.
“On behalf of the Biome Australia board and management, I’m pleased to share our Q3 and year-to-date sales revenue results of $1.84 million and $5.2 million respectively,” BIO Managing Director Blair Vega Norfolk said.
Mr Norfolk said he was pleased to see sales growth in a quarter that traditionally was the industry’s weakest of the year due to seasonal factors.
Additionally, the company’s year-to-date (YTD) sales have put it on track to achieve its forecast of $7 million in full-year revenue for FY23.
This would represent an increase of 126 per cent compared to FY22 sales.
Mr Norfolk said the company looked forward to sharing more record results with the market in the fourth quarter.
“We look forward to sharing Q4 results, as it is expected to be another record quarter with strong growth indications from Biome’s key health retail partners Priceline Pharmacy and Terry White Chemmart,” Mr Norfolk said.
“Australians are bracing for what the industry is predicting to be one of the worst cold and flu seasons in recent years.”
BIO shares were trading at 7 cents per share at market close.
