Bubs Australia Limited (ASX: BUB), a goat milk-based baby formula merchant, reported a decline of 32% in overall sales in China. This represents 15% of the gross sales for the quarter. However, in Australia sales were up by 31%.
Other key highlights:
- Quarterly revenue highest on record at $14.54 million;
- For the quarter the company reported an operating cash loss of $12.4 million on sales of $13.3 million;
- Bubs® infant formula up 77% pcp; representing 59% of gross sales for the quarter.
At AEDT 01:06PM, the stock was trading at $0.835 per share, down by 10.215% from its previous close.
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