Melodiol Global Health has reported A$1.6 million in unaudited revenue in the first six weeks of the third quarter of CY23, aided by a “strong contribution” from Health House International.
The company’s share price surged more than 50% last week after reporting a doubling of group revenue in the April to June quarter.
The momentum has continued into Q3, the firm said, with strong revenue and new purchase orders laying a “solid foundation” for the remainder of the year.
Sales of $8.6m in the calendar year to date are only $100,000 behind the figure for the entire 2022 year, Melodiol added.
Unaudited sales in Q2 jumped 105% to A$4.7 million, helped, in part, by a strong performance by Health House International (HHI).
Although Melodiol only completed the acquisition in mid-May – meaning HHI contributed just six weeks of trading revenue to Melodiol’s Q2 performance – the company said HHI “has materially expanded the scale and market penetration of Melodiol’s international operations”.
Earlier this month, Melodiol, formerly Creso Pharma, said HHI generated revenue of $9.55m in the five months to May.
The Q2 performance saw Melodiol post half-year group revenue of $7m, up 64% on the previous corresponding period.
Shares in the company jumped 54% late last week, hitting $0.010c, before slipping back to $0.009c.
Despite the rally, shares are still well below Melodiol’s 52-week high of $0.050c last July.
Melodiol management were buoyed by the latest financial performance.
Chief executive Will Lay said: “The material uplift in revenues on a quarter-by-quarter basis is further evidence of the group’s operating momentum and sets the company up for an exciting second half of the year following the integration of HHI in Q2.”
