Update on Sales and Cashflow for Quarter ended 31 March 22
Brisbane, April 7, 2022 AEST (ABN Newswire) - Fiji Kava Limited (
ASX:FIJ), is a health and wellness company with operations in Australia, Fiji, and the USA. The company which produces natural products to reduce anxiety, promote relaxation, improve sleep, and support sports recovery has seen a significant uplift on sales performance in Q3 FY22. In the interests of maintaining an informed market, FIJ provides the following preliminary estimates for sales and cash flows for the quarter ended March 31st 2022.
- Sales up 30% quarter on quarter and 50% on the previous corresponding period to at least $615,000
- FY22 revenue now already surpasses FY21 full year revenues by 25% with 3 months remaining
- Total Cash Receipts up 450% on the December quarter and 360% on the previous corresponding period to at least $850,000
- Sales growth was led by increases in sales of drinking kava, B2B ingredients and strong US sales
- Cash flow growth was mainly driven by customer receipts and was assisted by a $327,105 GST refund
About Fiji Kava Limited
Fiji Kava Limited (ASX: FIJ) is an Australian-Fijian medicinal kava health & wellness company, producing natural 'noble kava' products for the complementary and alternative medicine market, estimated to exceed USD $210 billion by 2026 globally. As the first foreign company with approval from the Fijian Government to operate in the kava industry, FijiKava has established a global leading sustainable and 100% traceable, certified organic supply chain of 'noble kava' including a nucleus farm in Levuka, on the island of Ovalau, Fiji.
FijiKava is focused on expanding the availability of noble kava products throughout western markets to provide a natural alternative to prescription medicines to promote sleep, soothe and calm the nerves, support muscle relaxation and relax the mind.
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