- Infant formula producer Bubs has had a year of record growth in Australia and China
- Speaking at the Business in China Investor Conference, Bubs says domestic revenue has more than doubled and China revenue has more than tripled
- Direct export sales to China now make up 22 per cent of the group’s $14 million quarterly revenue
- Bubs’ share price is up nearly half a per cent today, currently trading for $1.13 per share
At this year’s annual Australian Companies Doing Business in China Investor Conference, infant formula producer Bubs presented detailing its success in the major Asian market.
During the 2019 financial year, the company achieved record growth both domestically and in China. Revenue in Australia increased 153 per cent on the previous year and revenue in China rocketed 209 per cent.
For the first quarter of the 2020 financial year, the company’s revenue is now sitting at $14.21 million. When compared to revenue gained during the first quarter of the 2019 financial year this is a 58 per cent increase
Bubs specialise in producing organic infant formula using both goats and cow milk.
Direct sales to China now make up 22 per cent of the company’s revenue. According to Bubs, this represents its focus on building brand momentum with Chinese consumers.
“During the quarter, as the business takes shape in China, we commenced data analytics to cater for more relevant investments and granularity in achieving sustainable long-term growth,” Bubs’ Founder and CEO, Kristy Carr, said.
The data collected will assist the company plan specific regions to target and optimise supply chain planning.
“For the future, the strategic channel partnerships and rich data provide the underpinning for the increasing role that in-market marketing will play in developing the China market,” Kristy added.
Bubs’ share price is up 0.44 per cent today and currently trading for $1.13 per share.