Noumi saw higher revenue in the fiscal first half, thanks to strong sales across its plant-based milk and dairy segments.
The company’s net revenue grew 6.0 per cent year over year to $296.7 million as plant-based milk revenue rose 6.9 per cent to $87.5 million due to higher sales of Milklab.
An increase in private label sales also helped boost the revenue during the period.
“Our flagship Milklab brand continues to perform strongly, with healthy growth across both the plant-based range, particularly oat milk, and in dairy, lactose-free,” said Noumi CEO Michael Perich.
“We continue to explore opportunities to introduce what is already Australia’s favourite cafe brand to new customers with new markets opening up as cafe culture expands throughout Southeast Asia.”
Moreover, dairy and nutritional revenue climbed 5.7 per cent to $209.2 million despite challenging market conditions.
Meanwhile, its net loss widened to $27.7 million.
The company did not provide any outlook for this year due to economic uncertainty and volatility.
