• Revenue up 38% to $37.6m, NPAT of $2.4m
• Improved operational performance and customer demand
• New products continue to diversify the business

Clover Corporation, a leading developer and producer of encapsulated bioactive ingredients, has reported a strong 1H FY25 performance. Revenue was up 38% to $37.6m, driven by a recovery across Europe and ANZ, as well as new product sales. EBITDA grew to $4.3m, and NPAT was $2.4m, a significant improvement from the $0.6m loss in 1H FY24. The company's balance sheet remains strong, with $15.4m in cash and reduced working capital. Operationally, Clover has seen improved performance aligned with customer demand, including the commencement of crude oil deliveries from Ecuador and improved performance at Melody Dairies. The company continues to diversify its product range, with new non-allergenic, higher fortification, and plant-based powders driving revenue growth. Key strategic focuses include optimizing supply chain efficiencies, expanding distribution, and progressing regulatory approval and commercialization of the Premneo product. The Board expects the momentum of 1H FY25 to continue into the second half, assuming current forecast demand and global conditions prevail.

The Board expects the momentum of 1H FY25 to continue with a stronger 2H assuming current forecast demand and the global conditions prevail.