Melodiol starts Q3 strong with $1.6m in revenue and confirmed purchase orders

Melodiol Global Health has established a solid foundation for Q3 CY23, with $1.6m of new unaudited revenue and confirmed Purchase Orders (POs) achieved as of 17 July 2023.

The results build on the company’s record breaking Q2 CY2023 revenues of $4.7m which were up 105% on Q1 CY2023.

New sales during Q3 CY2023 takes the total unaudited revenue to date for the year to $8.6m – approaching record breaking revenues of $8.7m for the entire of CY2022.

Melodiol (ASX:ME1) says this revenue growth has been underpinned by strong contributions from subsidiaries Canadian recreational cannabis supplier Mernova Medicinal Inc, specialist medicinal cannabis distributor Health House International, and Creso Pharma Switzerland.

Capitalising on revenue growth opportunities

The company says the pleasing start to Q3 CY2023 highlights its ongoing focus of consolidating its market momentum following the successful integration of HHI, and driving further growth in revenue and EBITDA across its core operating divisions.

“In recent months, Melodiol has undertaken a number of steps to optimise its operations to capitalise on revenue growth opportunities,” CEO William Lay said.

“The group achieved exceptional momentum during the last quarter and we are pleased to see this continue in the early stages of Q3 FY2023.

“The board and management team are actively assessing a number of opportunities which have the potential to unlock additional value for shareholders and we look forward to providing ongoing operational updates over the coming months.”

This article was developed in collaboration with Melodiol Global Health, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.