Good to see this finally on the move. Some good commentary re:...

Good to see this finally on the move. Some good commentary re: result in SMH

BWX jumps to six-month high on revenue boom

By Alex Druce

Shares in skin and hair care firm BWX hit a six-month high this morning after it reported a 59 per cent increase in FY profit, driven by an agile response to the COVID crisis and a booming wellness market.

The owner, manufacturer and distributor of Sukin, Mineral Fusion, Andalou Naturals, DermaSukin products reported net profit of $15.2 million for the year - up from $9.5 million a year ago - as revenue lifted 26 per cent to $187.7 million.

BWX profit was up 59% for FY20. Credit:Michael Dodge

Shares in the $600 million company went as high as $4.67 on Friday morning and were last up 3.5 per cent at $4.42.

BWX said strong sales were particularly strong in the Asia Pacific market, where Sukin benefitted from market share gains in Coles and Australian Pharmacy during the second half.

The firm also reaped the reward of launching a natural hand sanitiser range within 21-days as the coronavirus hit – with the product now a core staple.

BWX accelerated its direct-to-consumer model and said its position as a local Australian manufacturer assisted the switch to a 3-shift operation to manufacture 10-fold increase for key inventory during the pandemic.

It also worked with co-packers in the US to maintain production.

BWX said it enters FY21 with significant momentum and it expects to deliver revenue and EBITDA growth of at least 10 per cent for the full-year ahead amid an increasing consumer focus on health and wellness.

The company will pay a fully franked final dividend of 2.6 cents per share, down from 2.7 cents per share a year ago.