Baby company Bubs Australia
(ASX:BUB) have collated all their business information for their annual report.
It shows they achieved net revenue of $16,906,256 – that's up from last year's $3,932,298
Their loss after income tax was $65 million whereas last year is was just over $5 million.
The operating loss reflects the fact the business is still in the development phase including the high costs of new product development, expenses related to expanding the domestic and China sales channels and investing in systems and processes to integrate Nulac Foods Pty Ltd.
Shares in Bubs Australia
(ASX:BUB) are flat at 63 cents.
