Retail strategy delivering close to half of ECS Botanics sales revenue, Q3 figures show
ECS Botanics reported a net cash operating deficit of A$1.5 million in the three months to March 31 as the company continued to build the market presence of its in-house brands.
The firm delivered Q3 revenue of $4.8m, up 1% on the second quarter and 19% higher than the previous corresponding period (pcp).
Direct to consumer sales, via prescribing medical practitioners, climbed 38% from Q2 to $2.2m, and now represent 46% of total revenue. The company launched its retail strategy last year and is currently working with 540 prescribers.
Meanwhile, B2B sales fell by an undisclosed amount despite ECS adding two customers during the quarter.
Managing director Nan-Maree Schoerie said the revenue growth from its B2C division “demonstrates the company is transitioning well” from its B2B roots to a “more balanced model which gives us the platform to achieve a stronger market presence”.
“The benefits of our strategic shift to a B2C and B2B hybrid model are beginning to materialise,” she said.
Schoerie added that the firm’s brands were beginning to gain traction in the market.
