Hofseth BioCare Reports Strong Quarterly Growth

Hofseth Biocare ASA (HOFBF) has released an update.

Hofseth BioCare ASA (HBC) reported a significant increase in sales revenue for the second quarter of 2024, up 42% year-over-year, marking a new quarterly record of NOK 72.2 million. The growth is attributed to strong market demand, particularly for premium pet products, and advancements in R&D, including promising developments in pharmaceutical lead candidates. HBC aims to continue its growth trajectory, targeting approximately 50% sales growth, improved capacity utilization, and positive EBITDA by year’s end.

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