By taking control of the huge pandemic problem in China, Farmmi was able to continue developing its sales and brand image. As a result, The China-based сompany reported record sales for the fiscal year 2021, causing the stock to rise sharply by over 28% to the price of $0.2530 in the pre-market trading sessions. The company has achieved significant results and it might be the right time for investors to look into the reports made by the company on Wednesday.
Farmmi had total revenues of more than $39.29 million in the fiscal year that ended on September 30, 2021. Last year, the company’s revenue made up 28.36 million dollars, and, as you noticed, in 2021, it is significantly improved by 38.5% to $ 10.93 million. Besides, the company also reported a gross profit of $5.11 million, showing a growth of 9.8% or $0.46 million year-over-year, compared to $4.65 in the previous year. And finally, an increase in net profit by almost 188% compared to the fiscal year 2020, amounting to $2.36 million.