Apologies if this has already been posted. Received this today
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CEO Report - December
Dear Shareholders,
November was a strong month for the company, with continuing sales growth through our retail partners and solid sales online. The company is firmly on track to surpass our full FY24 result before the end of December meaning our goal to more than double revenue is well within sight for FY25. As our strategy in the Australian market matures, we have shifted our focus from eCommerce growth to overall profitability. In future, we will focus on expanding our distribution in Australia to leverage the high level of brand awareness that has now been built in our home market. To support this, we are advancing our recruitment efforts for an Australian Country Manager, who will drive our online and retail businesses in 2025. We are also laying the groundwork for ramping up marketing in the USA, underpinned by the launch of a range of new products under the Taki Mai line in Q3 via Amazon and other online channels. Our Danodan range has been able to take advantage of recent changes in x.com policies to begin their first push into social media marketing over the Christmas period, which his a major step for the brand in the new year.
Strong eCommerce Sales Continue with Increased Focus on Profitability in Australia
The eCommerce team continues to drive exceptional results. eCommerce sales for Q1 were $1.6m, up 20% on Q4 and sales are continuing that trend in Q2 with eCommerce sales tracking at $19k per day pre Christmas and New Year.
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Coles Australia Coles Australia has made significant orders for all three of our products in November with orders surpassing $200,000 in the month. This represented 10% growth vs October. Acquisition of the Navua Facility & Land The purchase of our facility in Navua is an important step forward for the company. The new factory equipment for the upgrade has arrived in Fiji and the upgrades and installation of the equipment has begun and will progress over the Christmas and New Year period.
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CCO Price at posting:
0.7¢ Sentiment: None Disclosure: Held
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Coles Australia
