Hofseth Biocare ASA (HOFBF) has released an update.
Hofseth BioCare ASA reports a robust first quarter in 2024, with a 17% increase in sales revenues, reaching NOK 52 million, driven by strong demand for its pet food products and human-grade salmon oil. The company’s R&D initiatives are yielding positive results, particularly in the development of marine collagen and anti-diabetic bioactive peptides, paving the way for future market growth. Despite a seasonal downturn in the salmon oil market, HBC’s strategic growth and product innovation have contributed to an improved financial performance and optimism for continued expansion.
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