Sponsored

An overview of Nutritional Growth Solutions’ robust growth trajectory in Q1FY22 - Kalkine Media

Follow us on Google News:
 An overview of Nutritional Growth Solutions’ robust growth trajectory in Q1FY22
Image source: NGS Company

Highlights

  • Nutritional Growth Solutions is steering forward with the goal to grow its Healthy Heights® brand into a household name worldwide.
  • NGS products are now available on Walmart.com and RangeMe.com.
  • The company dispatched the first shipment of New Zealand manufactured products for distribution in Asia Pacific.
  • Overall revenue of the company grew by 10% from US$570k in Dec 2021 quarter to US$631K in March 2022 quarter.

The global nutritional health company Nutritional Growth Solutions Ltd. (ASX: NGS) kicked off the first quarter of the current fiscal year ending 31 March 2022 (Q1 FY22) with impressive growth initiatives to strengthen company’s position in the market. It aims to set in a strong footing as a child nutrition company in the United States, Asia Pacific, and other regions of the world with its scientifically formulated and clinically proven paediatric nutritional products.

Key expansion and business developments during the Quarter

 Healthy Heights® Grow Daily 3+ is the company’s flagship product

Image source: NGS Company 

Nutritional Growth Solutions’ Healthy Heights® shake mixes commenced sales on Walmart.com. The ecommerce platform receives around 100 million unique visitors every month. Also, the entire selection of Healthy Heights® products is now available on RangeMe.com. The digital platform is used by more than 10,000 retailers for product discovery and sourcing.

The company shipped the first lot of Healthy Heights® Grow Daily 3+ products manufactured at NIG Nutritionals in New Zealand for distribution across Asia Pacific. The sale of the products will be undertaken in the region via trusted ecommerce platforms, such as JD.com (NASDAQ: JD), Lazada Shopee, and TikTok.

The product range will also be sold through one of the world’s largest community e-commerce platforms, Little Red Book and the second largest cross-border e-commerce platform, Koala.

NGS welcomed David Fenlon as an Independent Non-Executive Chairman. He holds 30 years of experience in retail and consumer goods across Europe, Australasia and North America. Previously, he has worked as the Managing Director at BWX Limited and Blackmores Limited (ASX: BKL).

Also read: Nutritional Growth Solutions (ASX:NGS) gives short-stature kids higher hopes

Financial metrics of the firm during the quarter

NGS reported a total revenue of US$631k in the first quarter of FY22, 10% higher than December 2021 quarter (US$570k). Further, there has been an increase of 4% in the quarterly revenue from sales of Healthy Heights products in the US, on previous comparable period (pcp). The company had a cash balance of US$3.1 million at the end of the quarter.

Key development post March quarter

In a bid to make the Healthy Heights® brand a popular household name, NGS relaunched its KidzShake range under a new branding as Healthy Heights® KidzProtein. The new range has 15 products under its umbrella. It includes a vegan option for the kids having intolerance to dairy-based products. 

Do read: Nutritional Growth Solutions (ASX:NGS) launches Healthy Height® in Europe

Management commentary on March 2022 quarter performance

Stock information: NGS shares last traded at AU$0.150 on the ASX on 2 May 2022, with a market capitalisation of AU$17.89 million.

Do read: Nutritional Growth Solutions: An insight into different dimensions of this global nutrition provider

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK