Biome Australia Limited (ASX:BIO) Expands Distribution Network
Distribution Milestone Achieved
Biome Australia Limited (ASX: BIO) announced it has expanded its distribution footprint to over 6,000 locations across Australia. This marks a significant 20% growth from the previous 5,000 locations reported in FY24 over the last six months.
The company has secured new distribution agreements with USF Dispensaries in Victoria and Greenleaf Pharmacies in Western Australia. This expansion accounts for 33% of Biome’s strategic goal to reach 8,000 locations by the end of FY27.
Product Performance
Biome’s Activated Probiotics® product line is recognised as one of the fastest-growing brands in the Australian complementary medicine market. Terry White Chemmart and Priceline Pharmacy, Biome’s two largest pharmacy partners, reported substantial growth in sales, with increases of 70% and 95% respectively in the year leading up to December 31.
Terry White has expanded its product display for Activated Probiotics to three full shelves, while Priceline has increased its display to two full shelves, highlighting the growing consumer demand.
Future Outlook
Biome continues to focus on enhancing its presence in practitioner and pharmacy markets. The company is committed to providing innovative products that aim to increase profitability for pharmacies without competing with existing offerings.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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