Business
Bon Natural Life Limited Announces Record First Half-Year Revenue and Net Income
XI’AN, China, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) (“BON” or the “Company”), one of the leading bio-ingredient solutions
About this update from Bon Natural Life Limited
[{"type":"text","content":"XI’AN, China, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Bon Natural Life Limited (Nasdaq: BON) (“BON” or the “Company”), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced its half-year financial results for the six months ended March 31, 2023. 1H-2023 Financial Highlights Revenue - Total revenues were $14.1 million, representing a 3.4% increase from US$13.7 million for the same period in 2022.Income from operation – for the six months ended March 31, 2023 was $2,985,234 increase of $196,875 or 7.1% as compared to $2,788,359 in the same period of 2022.Net income attributable to BON Natural Life Limited - for the six months ended March 31, 2023 was $2,119,760 as compared to $2,548,678 in the same period of 2022.Earnings per share – Basic earnings per share was $0.24 for the six months ended March 31, 2023 as compared to $0.31 in the same period of 2022. Diluted earnings per share was $0.24 for the six months ended March 31, 2023 as compared to $0.30 in the same period of 2022. 1H-2023 Product Categories Summary: Growth vs. Prior Year Revenues increase (decrease)Gross Profits increase (decrease)Fragrance Compounds(8.4%)12.3%Health Supplements (Powder Drinks)37.2%21.0%Bioactive Food Ingredients(5.2%)20.0% Fragrance Compounds Revenues from sales of fragrance compound products decreased by 8.4% to US$6.8 million in the six months ended March 31, 2023 from US$7.4 million for the same period in 2022. The decrease was primarily attributable to a 10.1% decrease in average selling price and a 9.5% negative impact from currency exchange, partially offset by an increase of 1.8% in sales volume. Gross profit from fragrance compound products increased by 12.3% to US$2.0 million from US$1.8 million for the same period in 2022. The increase was primarily attributable to a 16.6% decrease in cost of products due to our ability to negotiate better price from suppliers and an increase of 1.8% in sales volume, partially offset by a 9.5% negative impact from currency exchange. Health Supplements (Powder Drinks) Revenues from sales of health supplement (powder drinks) products increased by 37.2% to US$4.6 million in the six months ended March 31, 2023 from US$3.3 million for the same period in 2022. The increase was primarily attributable to an increase of 50% in sales volume and partial...