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Cellmid's sale event brings in $1.13 million on Japanese TV shopping channel

Other QVC TV shopping channels in USA, Germany and UK are expected to come online in 2020.

Cellmid Limited - Cellmid's latest sale event brings in $1.13 million on Japanese shopping channel QVC
Cellmid is a life sciences company with a consumer health business and biotech assets in development

Cellmid Limited’s (ASX:CDY) latest Today's Special Value (TSV) sale event on Japanese television shopping channel QVC delivered wholesale revenue of $1.13 million for the company.

This result, which is on par with the last TSV event in June which brought a wholesale revenue of $1.14 million, is higher than the revenue from the event held at the same time last year which brought $1.1 million.

This is the first event that will be not be accruing shipping costs to the company and therefore Cellmid's net profit will not be higher.

The result is consistent with Cellmid’s key objective of reaching operational profitability for its consumer business in FY2020.

Channels to drive revenue growth

Chief executive officer Maria Halasz said: “Consistent with our growth strategy released in February this year we continue to improve our net margin on this already lucrative channel, as we work towards operational profitability of our consumer business in FY2020.

“We have added significantly to our sales channels in recent months with Priceline, openshop, Douglas and premium retail in the USA all of which will drive revenue growth in coming months.”

TV shopping “best performing medium”

The company’s Jo-Ju® branded FGF5 inhibitor hair loss products remain one of the best-selling products ever on QVC Japan and it is expected that another event will be planned for the middle of 2020.

Television shopping generally, with integrated e-commerce, remains the best performing medium for the company’s products, confirmed most recently in Australia with openshop.

The company has been negotiating other television shopping opportunities and it is expected that QVC USA, QVC Germany and QVC UK will start selling the evolis® Professional branded products in 2020.

Quick facts: Cellmid Limited

Price: 0.185 AUD

ASX:CDY
Market: ASX
Market Cap: $22.33 m
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