Bubs revenue soars on China sales growth

Company News

by Rachael Jones

Infant formula company Bubs Australia (ASX:BUB) released their cash flow statement for the second quarter showing China sales momentum delivered strong revenue growth year-on-year.

Gross revenue of $21 million for the first half of the financial year 2019 exceeded the gross revenue for full financial year 2018.

Founder and CEO Kristy Carr says sales into China have been catalysed by traction on China’s major eCommerce B2C platforms and the successful activation of the Corporate Daigou distribution channel in Australia.

Second quarter for financial year 2019 gross revenue is up 499 per cent year-on-year to $12.1 million

Shares in Bubs Australia (ASX:BUB) are trading 8.14 per cent higher to 47 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.