bWellness, the complementary business which Nuchev bought over last May, was noted to have delivered a “significant uplift” to the goat maker’s overall revenue.
During the first half of FY25, bWellness brought in a revenue of AUD5.1m (US$3.2m) - contributing to nearly half (45 per cent) of the company’s total revenue.
bWellness is a distributor of both Australian and European supplement brands. Examples include Adrenergy and EnteroZYME.
Nuchev’s revenue in the first half of 2025 was AUD11.3m (US$7m), up AUD4.5m (US$2.8m) or 65 per cent year-on-year.
This amount also surpassed its total revenue generated in FY24, the firm announced on January 29.
With bWellness, Nuchev said it has managed to grow in scale and entered into the practitioner channels across Australia and New Zealand.
CEO Mick Myers, who took over in November 2023, previously told NutraIngredients-Asia the acquisition of bWellness’ complementary medicines could help grow the company’s scale and profitability.
The firm’s performance in H1 FY25 has also led to positive net cashflows, Myers pointed out.
“Delivering positive net cashflows for the 2nd quarter, a first for the Group, is a great result and demonstrates the progress.
“Adding to the sales momentum, this has generated a strong H1 FY25 result with Group sales of AUD11.3m up AUD4.5m or 65 per cent pcp (previous corresponding period) - exceeding FY24 full year sales,” said Myers.
China’s infant formula business
Nuchev’s goat formula milk business in China also delivered a strong performance in the first half of FY25, aided by major shopping festival Double 11 and the launch of a new product.
Sales of its Oli6 goat milk infant formula, for instance, were up 115 per cent year-on-year in Double 11 last year.
A reason for the strong growth was due to the company conducting Double 11 presales from Q1, instead of waiting until Q2.
“Preselling for Double 11 commenced in Q1 and continued to deliver strong growth in Q2, with the Group recording a stronger result in 2025 compared with prior years, with sellout of Oli6 units in Double 11 up 115 per cent pcp.
“This continues to underline the ongoing momentum delivered through the performance of our China distribution agreement, underlying the importance of the China market and the seasonal impact of major sales events such as Double 11,” said the company.
Riding on the popularity of Double 11, the company also developed and launched a new product Oli6 Grow during the shopping festival in China last year.
Containing calcium, lysine as the key ingredients, this is a product for supporting immunity and bone health and has generated sales of AUD300k (US$186.8k) in Q2 FY25.
“With the support of our distribution partners, we have been able to respond to consumer insights that have helped fuel our sales.
“The launch of Oli6 Grow and the ongoing development of our new product development (NPD) pipeline illustrates the benefits from leveraging our key strategic relationships to deliver further sales growth,” said Myers.
Sales of all Oli6 products into China via cross-border e-commerce (CBEC) during Q2 FY25 was AUD2m (US$1.25m), up AUD100k (US$62.3k) as compared to the same time last year.
Australia and New Zealand also saw growth of Oli6 increase across grocery and pharmacy channels, including Coles, Woolworths, and Chemist Warehouse.
In total, sales of Oli6 hit AUD3.7m (US$2.3m) - up AUD600k (US$373.5k) or 19 per cent in the first half of FY25.
Myers said the company would continue to focus on delivering premium nutritional, immunity, and wellness products.
