Bubs Australia net revenue quadruples on last year

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.