MicroSalt (LON:SALT) shares rose 2.7% to 57p on Monday after the company reported record first-half sales and new volume projections from a major global food and beverage customer.
The AIM-listed low-sodium salt manufacturer said sales for the six months to June 30 reached $0.9 million, up 72% from the second half of 2024.
First-half revenue already exceeded its entire 2024 sales, with growth driven by bulk orders in North America, Mexico, the U.K. and Belgium.
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The company said it had received non-contractual volume projections from “Customer 3,” described as one of the world’s largest food, soft drink and snack manufacturers.
MicroSalt expects a North American rollout of a new product in the second quarter of 2026, with sales projected to exceed $5 million that year and expand to $11 million in 2027.
Customer 1, the Mexican division of Customer 3, purchased $0.6 million of MicroSalt for use in three mainstream items, with two more expected to begin later this year.
Customer 2, covering Canada and the U.S., bought $0.2 million for one brand, with additional launches planned in the fourth quarter.
The company said it invested $1.2 million in inventory during the first half to prepare for higher sales in the second half. However, U.S. regulatory changes on food colourings have delayed a larger rollout to 2026, prompting MicroSalt to cut its 2025 sales estimate to $2 million from $2.5 million.
The company now projects 2026 sales to total $6.7 million based on in-hand volume estimations and its current customer base.
Chief executive Rick Guiney said the results “underpin our confidence of future success.”
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