Wellnex ahieves $2 million in branded sales in April generating an operating profit of circa $350,000.
Investment highlights
▪ Wellnex received a record $2.03 million in orders for Wellnex owned brands in April and recorded an operating profit of circa $350,000
▪ Wellnex owned brands contributed 80% of the total revenue for the January to April period compared to 11% for the prior corresponding period (PCP)
▪ Gross margins for the January to April period were 39.6% compared to 11.1% for the PCP increasing from $1.2 million to $2.5 million
▪ IP licensing for the period was $1.2 million compared to $2.8 million for the PCP due to additional orders being delayed due to paracetamol pack size change laws introduced by the TGA in 2023.
▪ Continued growth of brands in FY25 from continued expansion of products and distribution, including international expansion
▪ Completion of placement to strategic investor Pearl Funds Management at $0.028, representing a significant premium to current share price
