Cellmid Limited (ASX: CDY), advised that sales of its FGF5 inhibitor hair growth and anti-aging hair care products for the second quarter of FY2018 reached $2,025,451*, an increase of 115% from the same period last year. (2QFY2017: $943K).
This is the first time the Company has recorded sales above $2 million for the quarter, and it is a 34% increase on the highest previous quarterly result of $1.5 million, which was achieved during the third quarter of FY2017, and coincided with the second QVC ‘million dollar day’ event.
The substantial increase in quarterly sales was the result of continued success with television shopping channel QVC, as well as the commencement of shipping to China following the receipt of import permits for the Jo-Ju® and Lexilis® branded products.
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