Health and wellness food group OMG saw sales more than double in the first quarter, driven by strong demand for its core products.
The group’s net sales for the September quarter soared 114 per cent year-on-year to $1.2 million, with strong momentum recorded across all channels.
Cash receipts for the quarter were $1.17 million, exceeding the $1 million for the fourth consecutive quarter and representing a 56 per cent year-on-year increase.
The group said the strong performance was underpinned by solid demand for both Oat Milk Goodness and Blue Dinosaur products across major Australian retailers and direct-to-consumer channels.
Operating outflows were primarily associated with planned one-off marketing and inventory costs totalling approximately $233,000, positioning OMG to meet anticipated demand across the summer sales cycle, it added.
During the quarter, OMG expanded the availability of its Oat Milk Goodness range from approximately 500 to over 900 Woolworths stores, more than doubling the group’s national footprint. It also secured a deal for Blue Dinosaur products to be on shelves at up to 750 7-Eleven stores.
OMG CEO Alex Aleksic said the results demonstrated the effectiveness of the group’s multi-brand and multi-channel growth strategy.
“The expanded product ranging across Woolworths and 7-Eleven is a major milestone that sets us up for significant growth in the December quarter and beyond.
“Combined with our Summer of Cricket campaign and strong e-commerce momentum, OMG Group is exceptionally well positioned heading into the peak retail season as we target continued growth in scale and margins through the expansion of our leading multi-brand portfolio,” Aleksic added.
