Health and Happiness (H&H), the family nutrition company behind vitamin brand Swisse, has reported double-digit sales growth for the first nine months, underpinned by strong performance across all businesses.
The Hong Kong-headquartered company’s revenue for the period ended September 30 soared 12 per cent year-on-year to RMB10.8 billion ($2.3 billion), with like-for-like sales up 12.3 per cent.
The baby nutrition and care business led the growth with a 24 per cent increase in revenue to RMB3.9 billion. Adult nutrition and care business revenue rose 5 per cent to RMB5.2 billion, while pet nutrition and care increased 8.8 per cent to RMB1.59 billion.
By product segment, infant formula sales surged 33 per cent, while nutritional supplements increased 6 per cent.
Revenue grew 20.6 per cent in Mainland China and 6.7 per cent in North America, but slid 21.4 per cent in ANZ. Sales in other markets combined rose 17.4 per cent.
Mainland China remains the company’s largest market, accounting for 71 per cent of revenue.
In ANZ, the decline was attributed to the decline of the corporate daigou business. Despite the contraction, Swisse upheld its position as the top vitamin and supplement brand, with sales in the market up 8.9 per cent thanks to new product launches, effective marketing campaigns, and in-store retail execution.
“As we enter into the final few months of the year, we expect to see continued top-line full-year growth across all business segments,” said management.
In September, H&H appointed Yolanda Uys as the director of growth and brand for Swisse Australia and New Zealand.
