Melodiol Global Health Q2 2024 Revenue Update

Melodiol Global Health Limited (ASX: $ME1) has reported unaudited revenues of $4.8m for Q2 2024, marking a 9% increase from Q1 2024. The H1 2024 unaudited revenues totaled $9.2m, reflecting a substantial 31% increase compared to H1 2023. The growth was primarily driven by strong results at Mernova, with confirmed unaudited purchase orders of $2.0m, representing a 25% increase from Q1 2024 and a 33% increase from Q2 2023. Additionally, HHI contributed $2.8m in sales between its Australian and UK divisions during Q2 2024. The Company remains committed to rationalizing non-core business units and focusing on its core divisions, Mernova and HHI, to achieve profitability as quickly as possible.

CEO and Managing Director's Perspective

CEO and Managing Director, Mr William Lay, expressed satisfaction with the quarter-on-quarter growth, highlighting the Company's significant revenue expansion over the past year. Emphasizing the sharp focus on Mernova and HHI as core business units, he stated the teams' dedication to achieving group profitability by concentrating on these units and rationalizing non-core business units.

Summary and Outlook

Melodiol Global Health's Q2 2024 unaudited revenues of $4.8m, representing a 9% increase from Q1 2024, demonstrate the Company's sustained growth trajectory. The strong performance at Mernova, with confirmed purchase orders and achievement of key objectives, has been instrumental in driving the revenue increase. The CEO's emphasis on focusing on core business units and achieving profitability aligns with the Company's strategic direction. With a commitment to quality and a focus on cannabis, hemp-derived, and other plant-based products, Melodiol aims to continue its growth trajectory and deliver value to its stakeholders.