Fiji Kava Limited (AU:CCO) has released an update.
Fiji Kava Limited has reported a remarkable fiscal year, achieving record quarterly sales of $1.8 million, up 195% from the previous year, and successfully raising $2.65 million through an oversubscribed Rights Issue to fund US market expansion and facility upgrades. The company’s strategic initiatives have led to strong eCommerce growth and a significant increase in product distribution through Coles Australia. These efforts have been supported by controlled expenses and an inventory that meets demand, setting the stage for new product launches in the US in FY25.
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