Wellnex Life Limited (ASX:WNX) Q2 FY25 Sales Surge and UK Expansion
Financial Performance
Wellnex Life Limited reported quarterly cash receipts of $3.89 million, a 36% increase compared to Q2 FY24. The company achieved record sales in November and December, each generating $3 million, with 56% from its own brands. Sales for 1H FY25 reached $11.94 million, up 112% compared to the prior year, with brand sales up 182% and IP licensing up 64%.
UK Market Expansion
The company delivered its first product for the UK market to Haleon, marking a significant milestone. Wellnex Life is progressing its dual listing on the London Stock Exchange, with a UK marketing campaign set to commence post the reporting period.
Capital Raising Activities
Wellnex Life appointed UK-based broker SP Angel Corporate Finance LLP to co-lead the UK fundraise with Orana Corporate LLP. The company successfully completed a placement of $A0.95 million during the quarter at $1.40 per share.
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