• Revenue up 38% to $37.6m
• Gross margin improvement of 270bp
• EBITDA of $4.3m, up significantly on pcp
• NPAT of $2.4m, marking a turnaround from prior loss

Clover Corporation Limited (ASX:CLV), a leading provider of innovative nutritional ingredients, has reported a strong financial and operational performance for the six months ended 31 January 2025. Revenue increased by 38% to $37.6 million, driven by the company's product and market diversification strategy and improved market conditions. Gross margin improved by 270 basis points, underpinned by customer/product mix and manufacturing performance. EBITDA grew to $4.3 million, up significantly on the prior corresponding period, and the company reported a net profit after tax of $2.4 million, marking a turnaround from the prior half year's loss. The company's balance sheet remains strong, with cash of $15.4 million as at 31 January 2025. Operationally, the company has seen improvements at its Melody Dairies facility in New Zealand, with the new management team delivering high-quality products and improved plant utilisation and efficiency. The company's expansion into Ecuador for the extraction of crude fish oil from tuna heads has also gained momentum, with shipments commencing in November 2024 and delivering excellent yield and quality. The company has also seen success with new product releases, including powdered High Omega 3 in nutraceuticals, pet food, and food for special medical purposes, as well as its unique Gelphorm and CholineXcel products. Looking ahead, the board expects the momentum of the first half to continue, with a stronger second half, assuming current forecast demand and global conditions prevail.

The company expects revenue, profit, and margins to continue the positive momentum seen in the first half of FY25, assuming current forecast demand and global conditions prevail.

The board expects the momentum of the first half to continue, with a stronger second half, assuming current forecast demand and global conditions prevail.