The Original Juice Co Limited says its strong performance in Q1 FY24 reflects the significant changes made to the business over the last two years.
In Q1 FY24, its gross sales increased 23 per cent on the prior comparison period (pcp) to $13.4 million. For the three months to 10 September, OJC and Juice Lab sales grew 13 per cent compared to the Chilled Juice and Drinks category growth of 2.6 per cent.
Its Juice Lab brand of wellness shots, multi-shots, and smoothies has a market share of 68 per cent, it said.
The company has forecast 12-16 per cent sales growth for FY24, to a range of $59-61 million.
OJC CEO Steven Cail said, “Over the past two years, OJC has undergone significant changes to the Board, the management team and our focus is clearly on the core business. This has driven a new strategy and improved governance, people capability, efficiency, cost control and performance.
“We’ve got a clear plan to grow sustainably and profitably in the years ahead. Today’s Q1 FY24 sales growth of 23 per cent versus PCP, and our resultant full FY24 forecast of 12-16 per cent sales growth, gives us confidence in the plan.
Our forecast targets for FY24 would mean a second consecutive year of strong sales growth (which were up 18 per cent in FY23) and provide some genuine momentum for OJC.”
OJC also has new grocery range reviews at Woolworths and Coles including six new products - three new 600ml drinks and three new Juice Lab shots.
