Fast-growing infant formula exporter Bubs Australia (ASX: BUB) has recorded greater sales in the final quarter of the year than it did in the whole of 2018.
The producer of formula, organic baby food, and goat dairy products announced sales of $18.46 million in the quarter and $51.3 million for the full year.
Bubs CEO Kristy Carr said: “We are pleased to deliver the strongest quarter in the company’s history.
“The full year finished up 179 percent on prior year.”
The company has risen to prominence with rapid investments in its supply chain and capabilities, and key strategic channel partnerships especially into the China market.
“(This) is delivering an aggressive growth trajectory and a platform for moving into profitable growth in the near term.”
The results were driven by a threefold increase in Bubs goat milk infant formula sales compared to the same period last year.
Bubs finished the year with $23.3 million in cash reserves and positive cashflow was achieved in operating activities through fourth quarter.
Picture: Bubs Australia
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