Cellmid Ltd - Trending towards break-even
Cellmid Ltd (ASX:CDY)

Trending towards break-even

Published Oct 01, 2019

What happened?

Accelerating consumer health revenue growth:

Consumer health revenue growth of 30% in FY2019, up from 25% in FY2018.

Improved operating results:

Consumer health operating results improved with a 42% reduction in operating loss to $0.7 million, down from $1.2 million in FY2018.

Investing for global growth:

Significant investment in senior management team, distribution channels, e-commerce and digital market capabilities plus operational efficiencies.

Guidance confirmed:

Cellmid is on track to reach operating profitability in the consumer health business in FY2020.

CEO's summary

Maria Halasz CEO of Cellmid Ltd has provided a statement.
Maria Halasz
Maria Halasz
CEO, Cellmid Ltd

“FY2019 was a year of significant investment for Cellmid. We have expanded our distribution channels in the US and around the world, built our e-commerce and digital marketing infrastructure, and we have expanded our senior management capability for global growth. The benefit of these investments will flow through in FY2020 and beyond. We are now well positioned to take advantage of the large market opportunity for our first in class, best in class antiaging hair products.”

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