Business
Commercial update
Commercial update.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\" or \"the Group\")\n \nCommercial update\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, provides the following unaudited commercial update. This report provides a general update of sales progress on the areas of commercial focus for 2024. These are:-\n \n1. Increasing the number of partners and sales in the USA as the world's largest economy\n2. Increasing the number of partners and sales in Asia recognising its high growth rate and large and growing consumer markets with over 60% of the world's population, with China (1), India (2) and Indonesia (4) forecast to become three of the world's largest four economies by the 2050s\n3. Investing in e-commerce channels nationally, and subsequently internationally to drive direct-to-consumer sales, reducing reliance on retail partners and increase gross profit margins\n4. A trend towards selling more final branded or white label products which include the Company's ingredients to partners. This leads to two sales streams: the ingredient which goes in the final product and the finished product sale\n \nThis update will show progress in each of these areas and the investments in India and the USA starting to deliver larger partners in key strategic markets with large initial orders being placed and the potential for high volume sales.\n \nGeneral\nThe recovery of sales activity in 2023 has continued into the current year, helped by strong e-commerce sales, a number of new large partners placing large orders for final products including Dr Morepen in India, a NASDAQ listed USA e-commerce and direct selling company placing an order for a tomato soup final product, the launch of LeanBiome® in Muscletech® at the start of 2024, and continued growth in Asian markets. As these partners build their brands in their respective markets and grow sales they have the potential to transform the business. \n \nSales orders for the first six months of the current year were under £600K approaching the FY 2023 reported revenue of £644K which was subsequently surpassed at the end of July 2024. These sales orders include confirmed orde...