We are pleased to share Wellnex Life (ASX:WNX), owner and developer of some of Australia's leading health brands, has recently published a key ASX announcement.
Announcement Highlights
- Record Cash inflows from brand sales
- Operating profit of $0.5 million (Q4 FY24)
- Quarterly Cash Receipts (Q4 FY24) $4.9 million
- 56% rise from previous quarter (Q3 FY24: $3.12 million)
- 122% rise in margins for 6 months ending June 30 compared to previous 6 months
- Investment of $1.35 million in the quarter for the purchase 12 month's supply of ingredients and packaging for Pain Away and for the launch of new Wakey Wakey product lines
- Extension of new 2 innovative lines of Wakey Wakey which have commenced ranging in major pharmacy and grocery retailers in July
- Launch of medicinal cannabis brand commenced sales in July for the SAS-B market
- Wellnex Life progresses with dual listing on the London Stock Exchange
- Placement completed with participation from UK based investors post close of quarter
Wellnex Life (ASX: WNX) is pleased to provide the following operational update along with its Appendix 4C for the quarter ended June 2024. ("Q4 FY24").
The company recorded Cash Receipts for Q4 FY24 of $4.9 million, an increase of 56% on the previous quarter (Q3 FY24: $3.12 million), with 82% of all cash receipts coming from brand sales resulting in an operating profit of $0.5 million for the quarter.
The increasing sales of Wellnex Life's brands has resulted in margins increasing 120% in the last half of FY24 compared to the first half of FY24 to 40% (H1FY24: 18%).
Read the full Wellnex Life announcement here.
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