CEO Reg Weine said, "Our key target market, the USA, has delivered exceptional growth for Bubs, with total gross revenues of $48.9 million, an increase of 63% on FY 2023.
Weine added:We expect our new products to perform better than the existing range and our US sales to grow strongly in FY 2025.
There is early evidence that our new look tins are resonating with US parents and caregivers.
As for China, Weine said:While USA expansion remains our immediate priority, pleasingly we are now achieving strong sales growth in China with gross revenue in the second half of FY 2024 of $11.0 million exceeding the first half of FY 2024 of $8.0 million.
And on the home front, Weine notedomestically, we are one of the fastest growing infant formula manufacturers in the category and the fastest growing premium brand, achieving 11% scan sales growth for the quarter versus the total market growth of 2.2%.
Pleasingly, Bubs is the largest player in the domestic goat IMF [infant milk formula] market with 52% market share.
BUB Price at posting:
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omestically, we are one of the fastest growing infant formula manufacturers in the category and the fastest growing premium brand, achieving 11% scan sales growth for the quarter versus the total market growth of 2.2%.
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