Infant formula producer, Bubs Australia (ASX:BUB) has released its quarterly activities report for the period ended 30 June 2020.
Full year gross revenue increased 32 per cent to $62 million.
Bubs Infant formula sales increased 20 per cent in the fourth quarter and represent over 70 per cent of the company’s quarterly gross revenue.
Group gross revenue however decreased 5 per cent during the quarter because the previous quarter pulled forward demand as the pandemic prompted pantry stocking in multiple markets and challenging international logistics.
Shares in Bubs Australia (ASX:BUB) are trading 5.39 per cent lower at 96 cents.