Sharechat Logo

Me Today Limited (NZX: MEE) Results for the Six Months Ended 30 September 2020

Friday 27th November 2020

Text too small?

Me Today Limited has released its unaudited group results for the six months ended 30th September 2020. Since listing on the NZX Main Board on 1st April 2020 the company has been implementing its strategy of building the brand, market expansion, innovation, and channel development.

 

Key Highlights:

 

• Net revenue grew by 132% on the same period last year from $183k to $424k.

 

• Operating loss of $1.26m versus $300k in the same period last year.

 

• Completion of successful capital raising of $4.3m net of capital raising costs.

 

• Cash reserves of $6.7m to support the planned growth strategy of the group.

 

• Stocked in 270 Unichem and Life Pharmacies through the Green Cross Health pharmacy network nationwide.

 

• New product launches:

 

  - Introduction of nine new supplements from April – August 2020.

 

  - Six new skincare products in October 2020.

 

  - Me Today Natural SPF30 Broad Spectrum Sunscreen in November 2020.

 

• Opening of the Me Today brand T-mall store in October 2020.

 

• Launched first Television campaign in October 2020, featuring Beauden Barrett and Sakura Matches.

 

• Distribution discussions underway with potential partners in the United Kingdom, Ireland and Japan.

 

The strategy for the year ahead will be continued investment into growing the Me Today brand in both New Zealand and international markets. As a result, the group will continue to be loss making for the remainder of the FY21 year.

 

See the links below for more details:

 

Me Today results for the six months ended 30 September 2020

 

Me Today HY21 Financial results announcement

 

Me Today HY21 Interim Financial Statements

 

Source: Me Today Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Chatham Rock Phosphate Limited (NZX: CRP) Chatham Successfully Completes Private Placement
Turners Automotive Group Limited (NZX: TRA) Upgrades FY21 Earnings Guidance
Blackwell Global Holdings Limited (NZX: BGI) Restructure of Business Operations
Vista Group International Limited (NZX: VGL) Vista Group appoints James Miller as Independent Director
Rakon Limited (NZX: RAK) Update of FY2021 Earnings Guidance
The a2 Milk Company Limited (NZX: ATM) Organisational Announcement
Reserve Bank of New Zealand Committed to Action as It Responds to Data Breach
MHM Automation Limited (NZX: MHM) Settlement of New Plymouth Building Sale
Napier Port Holdings Limited (NZX: NPH) First Quarter 2021 Trade Volumes
New Zealand Oil & Gas Limited (NZX: NZO) Mahato PSC Update - Oil Production

IRG See IRG research reports