AU Sales lead the way (85% gross), page-19

Bubs Australia says it finished the financial year with $51.3 million in revenues, which is 179 per cent higher than 2017-18. Its expansion in the second half saw its fourth quarter alone exceed its 2017-18 full year revenue. Bubs shares last traded at $1.34.

Bubs now has $23.3 million in cash reserves after the strong end to the financial year.

"The core driver was Bubs goat milk infant formula, which increased 341 per cent year on year," founder and chief executive Kirsty Carr tells the market.

"Our home market experienced the strongest growth throughout the quarter, driven by increasing penetration in Coles, Woolworths, Big W, Amazon, and Costco, and the national roll-out of all 28 products in Chemist Warehouse outlets in June. In addition, the rapid growth of the corporate Daigou segment contributed to our domestic sales more than doubling that of the prior year."

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