- eCommerce and digital marketer RooLife Group (RLG) expects revenue to be up 40 per cent for the March quarter thanks to accelerated product sales
- The company estimates it will bring in $3.5 million in revenue over the first quarter of this year
- This takes the year-to-date revenue for the 2021 financial year to $5.75 million — an already 70 per cent increase compared to the $3.4 million in revenue for FY20
- With three months still left in the current financial year, it’s already shaping up to be more earnings accretive for the digital marketer
- Company shares are up 17.9 per cent and are trading at 3.3 cents
RooLife Group (RLG) expects its revenue for the March quarter to be 40 per cent stronger thanks to accelerated product sales.
The eCommerce and digital marketing company now expects to deliver $3.5 million in revenue for the three months ending March 31. This is noticeably higher than the $2.5 million revenue guidance announced on January 28.
Pleasingly, this will take revenue for the 2021 financial year-to-date to $5.75 million, which is already up 70 per cent on the $3.4 million delivered in FY20.
“Increased revenue has been driven by accelerating product sales across a range of our existing contracts,” Managing Director Bryan Carr said.
RooLife generates revenue from a mix of service fees and commissions on the products it sells.
The ASX-lister also represents and generates sales for a growing number of products and brands in China on behalf of companies around the world.
A testament to this is becoming Murray River Organics’ (MRG) cross border eCommerce provider for China.
The Australian organic food product manufacturer appointed RooLife to manage its brands and product sales in cross border channels to China. At the time of the agreement, RooLife estimated it would bring in about $10 million in revenue.
Company shares are up 17.9 per cent and are trading at 3.3 cents at 11:11 am AEDT.