- EVE Health Group (EVE) provides an unaudited half yearly update for its subsidiary, Meluka Australia, reporting an increase in revenue of 34 per cent to $750,000
- It reports Australian revenue is up 359 per cent, US revenue is up 21 per cent, and Canada revenue is up 492 per cent on the previous half-year period
- The driver of growth is its probiotic beverage line which recorded growth of 427 per cent from the previous corresponding half-year period.
- The company says it will launch its e-commerce store on WhatsApp commerce this month
- Shares closed flat today at 0.4 cents
EVE Health Group (EVE) has provided an unaudited half yearly update for its subsidiary, Meluka Australia, reporting an increase in revenue of 34 per cent to $750,000.
The company reports Australian revenue is up 359 per cent, US revenue up 21 per cent, and Canada revenue up 492 per cent on the previous half year period.
Its launch into Japan was better than expected with revenue in the December quarter doubling the September quarter results.
The driver of growth is reportedly the company’s probiotic beverage line which experienced growth of 427 per cent from the previous corresponding half year period.
Looking ahead, Meluka plans to expand on the success of its established probiotic products by launching four new products.
Meluka Australia Chief Executive Officer Ben Rohr said he is pleased with the results.
“Meluka Australia has had an impressive six-month period, with growth across Australia, North America and Japan,” he said.
“Distribution and expansion plans are well progressed with new products expected to expand our brand awareness and grow sales accordingly.”
The company said it will have launched its eCommerce store on WhatsApp by the end of this month.
It believes direct messaging channels are the future of eCommerce and said it will be one of the first businesses in Australia to launch on the platform.
Meluka Australia entered an agreement with Neptune Bio-Innovations last month to form an Australian-focused distribution alliance. It said the process is proceeding according to plan with sales and distribution poised to start next month.
EVE shares closed flat at 0.4 cents.