Neptune Reports Fiscal First Quarter 2024 Financial Results
LAVAL, Quebec – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced its financial and operating results for the three-month period ending June 30, 2023. During the first quarter of 2024 Neptune continued to focus on operational improvements, cost reductions and operational efficiencies. In the first quarter the Company’s organic baby food product line, Sprout, performed well with 26% gross profit margins achieved, ahead of Neptune’s projection of 22% in 2024. Neptune continues to prioritize cost management and the implementation of measures to increase operational efficiency throughout the business and the Company expects to see this in further cost savings through fiscal 2024. First Quarter 2024 Financial Highlights: Consolidated net revenue of $10.6 million, down from $16.3 million for the same period last year. This is...