Forbidden Foods saw higher revenue in the fiscal fourth quarter, which it attributed to improved inventory management.
The company reported revenue of $658,000 in the quarter ended June 30, up 16 per cent from the year-ago period.
The company benefited from the expansion of production capacity to meet demand quotas and continued to implement a strategy to drive higher sales growth for its flagship Blue Dinosaur product range.
Forbidden Foods booked net sales of $358,000 in June alone, the highest monthly result for the year. Those sales included a new Costco order and record e-commerce sales.
“We are pleased with the group’s progress in the June quarter, which saw the ongoing execution of our strategy to consolidate sales through key channels, complemented by an uplift in e-commerce revenues,” said Alex Aleksic, Forbidden Foods CEO.
“The steadfast commitment by the incoming management team to streamline costs and build a more efficient operating model over the past 12 months has created a strong foundation for growth in FY25.”
The company expects the impact of its further reduction in headcount in expenses in the upcoming quarters.
The board said it is continuing to review potential strategic merger and acquisition opportunities.
