Business
Annual Financial Report to 31 March 2024
Annual Financial Report to 31 March 2024.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018), AS AMENDED BY REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n23 June 2025\nChill Brands Group plc\n(\"Chill Brands\" or the \"Company\")\nFinal Results for the year to 31 March 2024\nUpdate on publication of Half Year results to 30 September 2024\nUpdate on suspension of shares\n\nFinal Results for the year to 31 March 2024\n \nChill Brands, the consumer packaged-goods distribution company, announces its final results and the publication of its audited annual report and accounts for the year to 31 March 2024 (the 'Annual Report').\nThe Annual Report will be published today on the Company's website in compliance with its articles of association and the electronic communications provisions of the Companies Act 2006.\nPlease click on the link below for a full text version of the Chill Brands Group plc audited annual report and accounts for the year to 31 March 2024:\nhttps://chillbrandsgroup.com/wp-content/uploads/2025/06/CBG-FY24-Annual-Report.pdf\nThe financial year ending 31 March 2024 was a period of substantial operational change and commercial progress for Chill Brands. Below is a summary of key developments and financial highlights during the reporting period:\n· Revenue Growth: The Company recorded a significant increase in revenue to £1,908,020, up from £82,840 in the prior financial year - representing a 23-fold increase (approximately 2,203%). This uplift was primarily driven by the successful launch and commercialisation of Chill-branded nicotine-free vape products in the UK.\n· Reduced Losses: While investing heavily in commercial activities, including expanded sales and marketing efforts, the Group succeeded in reducing its loss for the year to £3.4 million, down from £4.2 million in FY23.\n· Strategic Pivot: The Group completed its pivot from a prior focus on own-brand CBD product category, reorienting towards more commercially viable product lines.\n· Prospectus and CLN Conversion: During the period, the Company published a prospectus which facilitated the conversion of convertible loan notes (CLNs) issue...