Total
0
Shares
Nutritional Growth Solutions (ASX:NGS) - Non Executive Chairman, Brian Leedman
Non Executive Chairman, Brian Leedman
Source: Business News
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Nutritional Growth Sales’ (NGS) Healthy Height range surpasses US$500,000 (A$665,100) in wholesale sales since launching in Italy in March this year
  • The Healthy Height shake is clinically proven to increase growth development in children by up to 34 per cent
  • The range is being sold by NGS’ exclusive partner, Dicofarm, who distributes the product across national pharmacies and health food stores
  • Nutritional Growth Sales looks forward to expanding its European footprint to assist more children to reach their height potential
  • Company shares spiked 34.2 per cent on the back of the news to trade at 27.5 cents

Nutritional Growth Sales’ (NGS) Healthy Height range has surpassed US$500,000 (A$665,100) in wholesale sales in Italy since debuting in March this year.

The Healthy Height product is a shake that has been clinically proven to increase growth development in children by up to 34 per cent in their annual growth.

Over the three-month period, Nutritional Growth Solutions received the US$508,000 (A$675,442) in revenue from three purchase orders from Dicofarm.

Dicofarm distributes the Healthy Height shake range under the name “Dico Up” to national pharmacies and health food stores under an exclusive distribution deal with NGS.

Under the agreement, Dico Up was assigned an insurance billing code in Italy, allowing buyers to submit reimbursement claims from health insurers.

NGS chose Italy as the first European country to launch the product in due to its large child population of 8.2 million under the age of 14.

Company CEO and Managing Director Liron Fendell was proud to achieve significant sales.

“To surpass US$500,000 in wholesale sales in three months, in a new region, is a big milestone for our company and shows there is a genuine need for nutritional
products that support growth development in children,” Mr Fendell said.

“We look forward to expanding our footprint in Europe to assist even more children to reach their height potential.”

Company shares spiked 34.2 per cent on the back of the news to trade at 27.5 cents at 1:13 pm AEST.

NGS by the numbers
More From The Market Herald
Propel Funeral Partners (ASX:PFP) - Managing Director, Albin Kurti

" Propel Funeral Partners (ASX:PFP) raises a healthy $50.2m

Propel Funeral Partners (PFP) has successfully completed its institutional placement and raised $50.2 million.

" Lark Distilling Co. (ASX:LRK) buys Pontville Distillery and Estate for $40m

Lark Distilling Co. (LRK) will take over the Pontville Distillery and Estate by acquiring its owner Kernke Family Shene Estate for $40 million.
The Market Herald Video

" Wellfully (ASX:WFL) raises $5m to develop products further

Wellfully (WFL) has raised $5 million of firm commitments through an oversubscribed placement.
Keytone Dairy (ASX:KTD) - CEO, Danny Rotman

" Keytone Dairy (ASX:KTD) ushers in $15m in revenue

Keytone Dairy (KTD) has ushered in $15 million worth of revenue over the September quarter, its second quarter of