Noumi Limited Reports Growth Amidst Net Loss

Noumi Limited (AU:NOU) has released an update.

Noumi Limited, an Australian producer of plant-based and dairy milks, reported a 6.9% increase in group revenue to $589.8 million and a 22.2% rise in adjusted operating EBITDA to $50.8 million for FY24, bolstered by strong plant milk sales and recovery in Dairy & Nutritionals. Despite these gains, the company recorded a net loss of $98.3 million, attributed to fair value adjustments and a non-cash impairment charge. Noumi’s CEO emphasized the company’s progress towards a more efficient and resilient business, despite ongoing challenges in the industry.

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