Shares in probiotics maker Biome Australia jumped 17 percent after the company said it remains on track for record full year revenue and is meeting the targets set out in its three year growth plan.
The stock touched an intraday high of 32.5 cents before settling at 31 cents, up 4.5 cents on the day. Biome reported full year sales revenue rose 30 percent to 23.9 million dollars, a result the company said came despite a difficult stretch for the broader consumer health sector.
On track for Vision 27
The revenue figure keeps Biome in line with its Vision 27 growth plan, which targets total revenue of between 75 million and 85 million dollars across the 2025 to 2027 financial years.
Earlier this month, on June 3, Biome struck a manufacturing agreement with Specialty Probiotics Australia to bring production onshore. The company expects the deal to lift gross margins from 61 percent to above 65 percent over the next 18 months.
