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The 2018 Annual General Meeting of shareholders

29.11.2018


Today we convened 2018 Annual General Meeting of shareholders. It’s significant event for the whole group because it’s a good opportunity for all shareholders to share the performance we made, exchange the experience and outline a development program for the future.

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As the review on achievement we got in 2018, we reported the first Australian Stock Exchange financial results. We realized full year revenue of $10.9 million, a growth of 11%. Gross Profit is $4.49 million, up 22%, with gross margin improved from 39% to 41%. Record sales of company owned brand products via pharmacies stores increased to $780k from $51k in FY17. We kept a strong balance sheet includes $8.9 million (June 2018) in cash and no debt. Furthermore, we normalized FY 2018 profit of $2.2 million with add back of restructuring and one off expenses. We remain a strong organic growth and business acquisition targets in the pipeline.

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Besides, we offered a magnificent growth strategy in order to obtain more distribution channels for the domestic and target overseas markets by investing in the research and development of new effective and innovative product and commercialisation of these product lines, improving production efficiency and output of current factory , increasing site occupancy and expand into liquid manufacturing.

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We believe Star Combo will be able to maintain continuous luxurious digit growth, and continually to expand our current operations to serve our loyal business partners, customers and employees.


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