BABY stock soars as it enters U.K. market

Shares of Else Nutrition (Else Nutrition Stock Quote, Chart, News, Analysts, Financials TSX:BABY) are leading the TSX today as investors show optimism over the company’s entry in the U.K. market.

Shares of Else, which markets a plant-based baby formula, were up 52.5 per cent at press time, to $0.305, after the company announced it would partner with “leading UK distributors” and enter a baby food market its estimates to be worth 960-million GPB.

On this side of the pond, Else’s products can be found in CVS, Walmart, Sobey’s and Shoppers Drug Mart, amongst other places.

“Entering the UK is a game-changer for us and for health-aware families, as we introduce our products both online and in stores,” CEO Hamutal Yitzhak said. “The UK represents our first entry into the lucrative European market, and we expect to enter additional European countries in the near term. Moreover, Europe is an ideal market for our products given consumer preferences and trends towards healthy and nutritious plant-based options, especially for their children. Feedback from our partners has been overwhelmingly positive, and we anticipate sharing key upcoming milestones as we progress.”

On August 14, BABY reported its Q2 results. The company reported revenue of $2.4-millon, just three per cent better than the same period a year prior