Cellmid Ltd (ASX:CDY) has set another sales record after its second sales event this financial year on Japanese television shopping channel QVC delivered revenue of $1.14 million.
This is up from $1.1 million at a similar sales event in December 2018.
These highest ever retail sales of Cellmid’s Jo-Ju® branded hair products have confirmed the brand as one of the best performers of the QVC channel.
Shares up 32%
Investors responded positively with shares up to 27 cents intra-day, a 32% increase on yesterday's close.
The company is undertaking an audit with preliminary analysis of results indicating that sales for the fourth quarter of FY19 are also at a record high of $2.45 million – the highest ever quarterly result for the company.
This is compared to the 2018 quarter four total of $1.34 million.
Cellmid chief executive officer Maria Halasz said: “Our recent investment in expanding our senior leadership team and building our marketing capabilities is now translating through to increased sales and new distribution partnerships.
“We enter the 2020 financial year with positive operational momentum in sales growth and e-commerce expansion across Australia, the US and Japan.”
READ: Cellmid évolis professional product range to be sold in Europe
Cellmid is now preparing to launch its new e-commerce platform for its premium product range, évolis Professional, in Japan later this month.
The company has seen a ramp-up in its online performance since the launch of the new évolis website in Australia and the US in March 2019 and is confident that this success can be replicated in Japan in 2020.
READ: Cellmid appoints new Lyramid CEO to drive clinical development of midkine assets
Cellmid recently appointed Bart Wuurman as chief executive officer of its wholly-owned subsidiary Lyramid with the aim of unlocking shareholder value by separating the consumer health and biotech business.
His mandate is to accelerate partnering discussions and explore opportunities to fully exploit the midkine assets.
Wuurman has successfully executed biotech deals including Antisoma in the UK via a successful IPO and Lanthio Pharma in the Netherland via a trade sale.