- Meditech researcher and anti-aging specialist Cellmid (CDY) has reported some solid revenue from a recent Japanese television sale event
- The company sold $1.19 million worth of its Jo-Ju branded hair loss treatment products through QVC Japan’s ‘Today’s Special Value’ (TSV) event
- This is a marginal increase on the sales from TSV events in June and December 2019
- Cellmid says television shopping its the best performing sales channel for its products
- The company is also developing a COVID-19 test kit, which received some mixed results from a preliminary review yesterday
- Today, shares in Cellmid are trading almost eight per cent lower and worth 12 cents each
Meditech researcher and anti-aging specialist Cellmid (CDY) has reported some solid revenue from a recent Japanese television sale event.
The company sold $1.19 million worth of its Jo-Ju branded hair loss treatment products as part of the QVC Japan TV channel’s ‘Today’s Special Value’ (TSV) event on June 12.
Of course, this isn’t the first time Cellmid’s products have been sold through the event. The company sold $1.14 million worth of products in the June 2019 TSV event and $1.13 million in the December 2019 event. While this month’s sales result is only a marginal increase, it’s still an improvement on the past two events.
Cellmid told shareholders this morning that television shopping is still the best performing sales channel for its products. On top of the QVC Japan channel, Cellmid sells products on the QVC Germany and QVC U.S. channels and on Openshop in Australia.
Cellmid only launched its brands on Openshop — on channel 75 — in October 2019, but said sales have been gradually increasing since then.
Cellmid CEO Maria Halasz said it was particularly pleasing to have reported such strong QVC Japan sales considering the tough economic conditions brought about by the COVID-19 pandemic.
“We have implemented operational efficiencies, opened new sales channels and product lines in the past few months, which we expect will impact favourably on our results in FY2020 and beyond,” Maria said.
In March this year, Cellmid made the call to branch out from anti-ageing and hair care products to COVID-19 test kits.
The company is busy developing and testing its Wondfo SARS-CoV-2 antibody test. Yesterday, the company’s response to some mixed results about the effectiveness of Wondfo compared to other Australian antibody tests was released, prompting a sudden drop in company shares.
Today, despite the positive news of television sales, shares gave back more ground. At lunchtime AEST, Cellmid shares are trading 7.69 per cent lower at 12 cents each — still 50 per cent higher than their mid-March slump, but 66.67 per cent lower than their April high.