Wellnex Life Ltd (ASX:WNX) has notched up record revenue growth for the months of July and August 2021, up 49% compared to the previous corresponding period.
Promisingly, the company is on track to better the FY2021 result of $18.3 million, with budgeted FY2022 revenue to exceed $21 million.
This is as a result of strong sales growth from existing product lines, as well as the launch of new brands and product range in FY2022.
“Solid growth in revenue”
Wellnex CEO George Karafotias said: “The board and management are delighted to be able to report back to shareholders so quickly after the acquisition of Brand Solutions Australia, that our strategy, business model and brand portfolio are producing solid growth in revenue for the business.
“This is despite the prolonged COVID inspired lockdowns during the period covering July and August in the major markets of New South Wales and Victoria.
“The result demonstrates the resilience of Wellnex’s business model, making us very confident of growing our revenue further as NSW and Victoria begin to open their economies later this year.
“This will coincide with the launch of our exciting new brands beginning to arrive on Australian retail shelves.”
Forward plan
Wellnex’s revenue growth will be further accelerated with the launch of the Wagner Liquigesic brand in October 2021, with initial purchase orders received of $1 million.
This will be further enhanced with the launch and ranging of Wakey Wakey and The Iron Company Brand in major pharmaceutical and grocery retailers including Coles, Chemist Warehouse and Terry White.
Notably, Wellnex is also finalising plans for the roll-out of the Mark Wahlberg and Tom Dowd performance-inspired brands.
About Wellnex Life
Wellnex Life is an Australian brand and distribution company focused on developing next-generation health and wellness solutions.
The company has recently signed a licensing agreement with Performance Inspired - a leading nutrition and supplement brand in the USA.
Wellnex’s growth plans include opportunities in e-commerce and cannabis as well as an international expansion.