Melodiol Global Health optimistic about growth prospects thanks to subsidiary Health House’s strong H1 revenue
Last updated: 21:44 23 Jul 2023 EDT, First published: 21:16 23 Jul 2023 EDT
Melodiol Global Health Ltd (ASX:ME1) is optimistic about its growth prospects in the coming quarters after wholly-owned subsidiary Health House International Ltd delivered strong revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) for the half-year ended June 30.
Health House, an international pharmaceutical distributor specialising in medicinal cannabis products in Australia and medical products in the UK, reported combined currency-adjusted unaudited revenues of A$11.04 million, a 36% increase from the same period last year.
The unaudited adjusted EBITDA margin for the period was 7.4%.
Melodiol will consolidate A$2.74 million of the unaudited revenue into its own half-year to June 30 report to reflect its acquisition of Health House on May 15.
“Extremely pleased”
“Health House has been a very strong contributor since it joined the Melodiol group of companies,” Melodiol chief executive officer William Lay said.
“We are extremely pleased to witness the success of the various divisions at Health House as they deliver material revenues and adjusted EBITDA for the group.
“The board and management team is highly optimistic about the growth prospects for the entire Melodiol business over the coming quarters.”
About the company
Melodiol aims to bring the best of cannabis and other plant-based products to better the lives of people and animals.
Using the highest quality materials, the company has a wide consumer reach for its cannabis, hemp-derived and other plant-based therapeutic, nutraceutical and lifestyle products.
