- Nutritional Growth Solutions (NGS) sees a record half year revenue for the six months ending June 30 2021
- The company’s half year revenue came to US$1.8 million (A$2.5 million), which is up 83 per cent from June 30 2020
- This result was driven by continued growth in the key North American market, as well as launching its Healthy Height brand in China and Italy
- NGS ended the period with a cash balance of US$2.7 million (A$3.7 million)
- NGS ended the day down 3.85 per cent to close at 25 cents per share
Nutritional Growth Solutions (NGS) has seen a record half year revenue for the six months ending June 30 2021.
The company’s half year revenue totalled US$1.8 million (A$2.5 million), which is up 83 per cent from this time last year. This result was driven by continued growth in the key North American market, as well as launching its Healthy Height nutritional supplement brand in China and Italy.
However, NGS incurred a loss of US$2.2 million (A$3 million) for the first half as it increased investment in research, marketing and distribution.
At the end of the period, NGS had a cash balance of US$2.7 million (A$3.7 million).
Just recently, NGS signed a supply agreement to stock its range in Chemist Warehouse China.
CEO and Managing Director, Liron Fendell, was pleased with the progress during the six months ending June 30.
“The first half of 2021 has been instrumental to the international growth of Nutritional Growth Solutions as a global provider of nutritional supplements that are scientifically formulated by paediatric doctors, patented and clinically proven to support growth development in children, and our Healthy Height brand,” Ms Fendall said.
“Lastly, we have recommenced all clinical trials that were placed on hold due to COVID-19 and we look forward to providing an update of these findings once they are available.”
On the market, NGS was down 3.85 per cent to close at 25 cents.