We are pleased to share Wellnex Life (ASX:WNX), owner and developer of some of Australia's leading health brands, has recently published key ASX announcements.
Record Wellnex Own Brand Sales in April
Announcement 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.
Wellnex Life CEO George Karafotias commented:
"The transformation of Wellnex was part of the strategic plan implemented in 2023, where the focus on the company was to concentrate and grow the high-value high-margin brands of the group. While this has impacted revenue it has strategically increased margins and profitability.
The acquisition of PainAway as expected has accelerated the transition and underpins the importance of acquiring the PainAway brand."
Read the full Wellnex Life business update here.
Wellnex Life capitalises on Wakey Wakey brand success with an additional two new products launched
Announcement Highlights
- Wellnex continues to expand its innovative product offering with the addition of 2 new products added to the Wakey Wakey range.
- Ranging for the new products confirmed in Coles, Chemist Warehouse, Symbion and Sigma with a further roll out anticipated in additional grocery and pharmacy retailers/wholesalers.
- The additional Wakey Wakey branded products will build on the impressive growth in its sales since launch of the brand in October 2021.
Read the full Wellnex Life additional products launch announcement here.
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