BOD Australia Ltd - Bod continues to achieve strong revenue growth in FY2020

What happened?

What's happened?

Bod Australia Ltd (ASX: BDA, “Bod”) advises that it has achieved strong revenue growth in recent months with FY2020 revenue now totalling ~$4.5m.

What are the key highlights?

This marks a $1.1m increase on the revenue reported for the first nine months of FY2020, which totalled $3.4m.
The Company also has approximately $1.78m in unfulfilled binding purchase orders from Health & Happiness Group Ltd (H&H Group, HKSE: 1112) that it is aiming to finalise and deliver before the end of the current quarter.
The continued strengthening of the Company’s revenue base further demonstrates the scale and sales acceleration that Bod is currently achieving in large markets.
Bod is confident that it will continue to achieve an upward trajectory in sales for the remainder of FY2020 and beyond.
The Company has a large pipeline of products currently under development across formats (i.e. skincare, beverages etc), which will be launched in the coming months, as well as a range of products using unique delivery methods that will come to market in the near term.

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For further details, please see the announcement linked below.

CEO's summary

Jo Patterson CEO of BOD Australia Ltd has provided a statement.

Jo Patterson

CEO, BOD Australia Ltd

"Bod continues to deliver a number of innovative CBD and Hemp based consumer products that are being well received across large international markets and this is translating to the sustained revenue growth we are currently experiencing. We are confident that we can finalise and deliver many of the outstanding binding purchase orders this month to further grow our revenue numbers for this financial year. More consumers are connecting to our trusted brands across all business divisions and we expect order volumes as well as medicinal cannabis prescription sales, to naturally increase. We are confident of strong product uptake across the remainder of the calendar year and beyond.”