- Mad Paws (ASX:MPA) secures a strategic $5.25 million investment from Seven West Media (ASX:SWM)
- The capital injection aims to propel Mad Paws’ growth trajectory over the next 12-24 months
- Mad Paws’ financial performance for 1H FY24 shows continued revenue growth, increasing 22 per cent pcp
- MPA shares are up 9.52 per cent and trading at 11.5 cents at 1:04 pm AEDT
Mad Paws (ASX:MPA) has secured a strategic $5.25 million investment from Seven West Media (ASX:SWM).
The capital injection aims to propel Mad Paws’ growth trajectory over the next 12-24 months, with SWM now holding a 10.8 per cent stake in the company.
The investment comprises a $1.25 million cash injection and $4 million allocated for advertising across SWM’s extensive media platforms.
“With over six million households now having at least one pet, Seven’s reach presents the perfect platform for taking Mad Paws’ growth to the next level,” MPW Co-Founder & CEO Justus Hammer said.
“With Seven we will be able to reach a large national audience and position Mad Paws as the leading pet ecosystem in Australia.”
1H FY24 results
Mad Paws’ financial performance for the first half of FY24 reflects shows continued revenue growth, increasing 22 per cent pcp (30 per cent excluding discontinued products). E-commerce revenue also experienced a 19 per cent growth, and group operating EBITDA margins saw improvement.
“Our 1H FY24 results demonstrate the dedication of our team and the resilience of the Australian pet market,” Mr Hammer said.
“We are also excited to be acquiring new customers at a faster rate than ever before.
“A result of our cross-sell efforts and focus on driving efficient growth. We have also seen our strongest quarter in terms of life-time value improvements, driving a more loyal and long-term customer base across all verticals.”
MPA shares were up 9.52 per cent and trading at 11.5 cents at 1:04 pm AEDT.