Australian premium infant formula producer, Bubs Australia Limited (ASX:BUB) disclosed its annual report for FY20 (year ended 30 June 2020), highlights are-
- During the period, group gross revenue of BUB rose by 32% to A$62 million.
- Sales of Bubs® Infant Formula in FY20 increased 58% to A$30 million, representing ~55% group revenue.
- The Company has a robust balance sheet with approximately A$26 million in cash reserves.
- Bubs’ export markets outside China delivered 5-fold growth, indicating 10% group revenue.
The results during FY20 were driven by the robust performance of Bubs® Infant Formula in each retail regions and channels.