Functional hydration solutions provider The Hydration Pharmaceuticals Company (ASX: HPC) has achieved record net sales of $1.18 million for the month of June.
The result caps off a quarter of major growth for the company, during which it hit $2.95 million in net sales for the first time since inception.
That figure represented a 42% increase on the $2.08 million recorded in the previous corresponding period.
The sales trajectory highlights strong traction gained in key markets of US and Canada, as the impending northern hemisphere summer leads into peak demand period.
Summer trading is also expected to reverse the slight inventory shortfall experienced during the June quarter due to supply chain disruptions.
The Hydration Pharmaceuticals Company (Hydralyte North America) chief executive officer Oliver Baker said the quarterly results marked an important step in the company’s growth strategy.
“We have experienced material sales increases on a quarter-on-quarter and yearly basis, despite a challenging operating environment which has led to supply chain issues and manufacturing concerns for many other companies,” he said.
“Importantly, June marked a record month of sales and confirmed that our established footprint in North America leaves us well-positioned to capitalise on high demand [during the] northern summer.”
He said the company will continue to execute on new sales initiatives and creative marketing campaigns to accelerate product turnover and brand awareness.
Hydralyte North America specialises in the sale of a range of liquid, tablet and powder solutions to assist consumers with healthy hydration.
Established in Australia in 2001, the company is focused on growing its footprint in the healthy hydration solutions category, which generates annual sales of up to $1.62 billion in North America alone.
Hydralyte listed on the ASX in December, after raising $17 million through the issue of approximately 59 million shares at $0.29 each.
The raising provided the company with the financial flexibility needed to capitalise on a number of near-term objectives, including building a presence in traditional bricks-and-mortar retail outlets.