Monday 31st May 2021
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Listed health and wellness business, Me Today Limited, has announced its audited results for the year ended 31 March 2021 (FY21), reporting strong progress as it invests into building the Me Today brand and business globally. Me Today’s financial results for the FY21 year reflect the investment being made into establishing and growing the start-up business to achieve its global vision and are in line with management expectations.
Total gross revenue of the company for the year was $1.5m. After deducting the value of marketing services provided by a customer, total group revenue was $1.1m, a 102% increase on the prior year.
The company recorded an operating loss of $2.9m, an increase of $2.1m on the operating loss of $0.8m recorded in the prior year. Sales are expected to escalate over the 12 months to 31 March 2022 as the company continues to execute the Invest and Grow strategy. Based on the new distribution agreements achieved in FY21 and traction to date, gross revenue for FY22 is expected to be at least $3m.
CEO of Me Today, Michael Kerr, said: “There is huge potential for a new and modern brand, such as Me Today, that links supplements and natural skincare and produces premium quality products. We are very pleased with the progress we have made this year against the headwinds of the Covid pandemic and excited about the global opportunity in front of us.
Chairman Grant Baker said: “Both the Supplements and the Natural Skincare categories in New Zealand and overseas have experienced significant growth in recent years and Me Today is carving a strong place for itself in these high value markets. We see significant opportunity to further expand the product offering and take advantage of new trends within the health, beauty and wellbeing spaces. Our focus remains on taking our brand to the world and we have made great progress in just our first 12 months.
“The company is excited about the growth opportunities in the year ahead for Me Today and the group including the acquisition of King Honey which was announced today. King Honey Is an impressive Manuka Honey business which is well established to provide a platform for future growth. It complements the Me Today brand and the acquisition will enable Me Today to expand its existing lifestyle, health and wellness businesses”.
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