- Halo Food Co (HLF) hits a record high for its Australian operations over March
- Halo recorded sales of $5.3 million for the group over the month, which went on to account for 48 per cent of sales for the fourth quarter
- The company attributed this to the growing demand for its proprietary brand Tonik
- Total cash burn materially reduced through FY22 to $3.9 million for the 12 months to 31 March, marking a reduction of 60 per cent compared with FY21’s $8.2 million
- Halo Food Co is down 4.76 per cent, trading at 6 cents at 12:30 pm AEST
Halo Food Co (HLF) has hit a record high for its Australian operations during the month of March.
The company reached a high for the Australian operations of Halo over March, recording sales of $5.3 million and more than $7.1 million consolidated.
This month then went on to account for 48 per cent of fourth-quarter sales. The company said this demonstrates the growing demand for Halo’s proprietary brand Tonik.
The fourth quarter saw sales for the consolidated group totalling over $14.7 million, contributing to a record sales year, resulting in total sales of $59.9 million — an increase of 18 per cent on the prior financial year of FY21.
These results exclude any contribution from The Healthy Mummy acquisition, which will be consolidated into Halo from April 2023 onwards.
Sales during the fourth quarter were up 12 per cent on the prior corresponding period, but eased 15 per cent compared with the third quarter of FY22. The company attributed this reduction to significant employee absenteeism caused by the Omicron variant of COVID-19 and isolation requirements.
This abnormally high wave of absences resulted in the delayed manufacture and dispatch of orders to clients.
Halo CEO Danny Rotman said the final quarter of FY22 capped off another successful year of growth for Halo.
“Halo grew more than 18 per cent over the prior year, a strong result in a challenging macro environment of lockdowns, significant supply chain challenges and escalating raw material price increases particularly into the final quarter,” said Danny Rotman.
“Notwithstanding the challenges, Halo is in a strong operational position moving forward, with a robust and growing sales book across our diversified manufacturing operations.”
Total cash burn materially reduced through FY22 to $3.9 million for the 12 months to March 31, 2022, marking a significant reduction of 60 per cent compared with the cash burn in FY21 of $8.2 million.
Halo Food Co was down 4.76 per cent, trading at 6 cents per share at 12:30 pm AEST.