Oceania Natural on track to lift annual sales 58% as it tests new markets

Mon, 31 Oct 2016

By Jonathan Underhill Oct. 31 (BusinessDesk) - Oceania Natural, the food supplements maker which listed on the NXT at the end of March, said it was on track to lift revenue by 58 percent this year as it tests new markets outside of China. Its full-year revenue target is $5.4 million, up from $3.4 million last year. Sales were about $1 million in the second quarter, mainly from its key market of China, from $51,000 in the first quarter. Its gross margin narrowed to 43 percent from 56 percent and was on track to slip to 40 percent for the f...

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