Wattle Health announces record sales amid Asia expansion and hints at upcoming joint venture

By Cheryl Tay

- Last updated on GMT

For the 2017 financial year, Wattle raked in A$900,000 in revenue.
For the 2017 financial year, Wattle raked in A$900,000 in revenue.
Australian infant nutrition firm Wattle Health has reported record sales on the back of an expanding product range and an increasing number of export markets.

Between January and March this year, the company's dairy and nutritional portfolio brought in gross sales of A$804,379; this represented 121% of total sales during the entire second half of 2017.

This comes not long after its A$700,000 ($300,000 in cash and $400,000 in shares) acquisition of 80% of infant skincare company Little Innoscents in February.

For the 2017 financial year, Wattle raked in A$900,000 in revenue, from which A$250,000 in underlying earnings were generated.

New places, new products

This year, the company has entered Macau, and secured its first order in India​ for its natural baby food range.

This adds to Wattle's presence in Vietnam, the Middle East, and China, where Tesco Lotus is one of its three major distributors.

In Australia alone, its products are available at 700 retail stores, and it counts Australian Pharmaceutical Industries, JR Duty Free and Metcash among its distributors.

In February, Australian contract manufacturer Blend and Pack secured a 'brand slot'​ with the China Food and Drug Administration (CFDA) for Wattle's goat milk infant formula, which it hopes will be on shelves in China by the second half of the year.

While Wattle has thus far specialised in infant nutrition, it recently introduced nutritional dairy products meant for students, nursing mothers, and the elderly.

What's next?

Wattle requested that trading of its securities be suspended after it had released its Q1 2018 sales figures.

The company's official statement, released on 6 April, said it would announce on a later date the finalisation of a joint venture, as well as a possible raising of capital.

This voluntary suspension is to last until 20 April, or until Wattle has finalised either or both of the aforementioned initiatives.

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