BOD Australia Ltd - Record additional $1.43m binding purchase order to further strengthen FY2020 revenue
BOD Australia Ltd (ASX:BDA)

Record additional $1.43m binding purchase order to further strengthen FY2020 revenue

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Highlights

What's happened?

Bod Australia Ltd (ASX: BDA, “Bod”) has received a binding purchase order from Health & Happiness Group Ltd (H&H Group, HKSE: 1112) valued at $1.43m.

What are the key highlights?

  1. The majority of the record order is for Bod’s premium CBD products, sold directly to the UK consumers under the CBII brand (www.cbii-cbd.com) and includes soft gel cap products and CBD oil products.
  2. As per the pre-existing partnership agreement, H&H Group undertake the marketing, sales and distribution processes of collaborative products, defraying Bod’s working capital.
  3. Bod’s FY2020 revenue growth has been underpinned by the uptake of its CBII products in the UK, the launch of hemp-based products into 2,000 Australian stores under the Swisse Wellness brand and increased demand for Bod’s non-CBD herbal based product range.

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For further details, please refer to the announcement linked below.

CEO's Summary

Jo Patterson

"A binding purchase order of this size clearly demonstrates Bod’s ability to deliver innovative consumer products that are aligned with the brand and consumer demand. Further, it continues the upward trajectory in the Company’s order pipeline that in turn will generate sales in both domestic and large international markets. As more and more consumers connect with our trusted brands, we expect future purchase orders will naturally increase in size and value. We are experiencing strong uptake of our products across all business divisions and have a number of exciting initiatives pending, which will propel sales and revenue higher in the near term.”

Jo Patterson
CEO, BOD Australia Ltd
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