Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • MicroSalt delivered record H1 2025 sales of £0.71m, a 72% increase compared to H2 2024.

  • Customer 3 provided new North America volume projections, indicating potential rollout from Q2 2026 with sales exceeding £3.95m in 2026 and £8.7m in 2027.

  • The Company now expects full-year 2025 sales of £1.58m, compared with its earlier estimate of £1.98m, with growth momentum carried into 2026 and 2027.

MicroSalt plc (AIM:SALT), a manufacturer of full-flavour natural salt containing around 50% less sodium, announced continued advancement of its bulk B2B business during the six months ended 30 June 2025. The Company also reported that it has received revised volume projections from Customer 3, described as one of the largest global food, beverage, and snack manufacturers.

The non-contractual projections indicate the addition of a new product within Customer 3’s North American portfolio. Rollout is expected to commence in Q2 2026, with anticipated sales exceeding £3.95m in 2026 and expanding to £8.7m in 2027. These projections build on MicroSalt’s existing pipeline with Customer 3 and its divisions.

For H1 2025, MicroSalt achieved record total sales of £0.71m, an increase of nearly £0.28m (72%) against H2 2024, and representing 121% of the Company’s total sales for 2024. Revenue growth was supported by continued shipments to markets in Mexico, the United States, and Canada, alongside the opening of new markets in the UK and Belgium.

Bulk sales were primarily driven by repeat orders from Customer 3’s divisions. The Mexican division (Customer 1) contributed £0.47m from three mainstream items, with two additional items scheduled for rollout in Q3 or Q4 2025. The Canadian and US division (Customer 2) recorded purchases of £0.16m for one full brand covering multiple items, with two additional brands planned for Q4 2025. Non-bulk sales to retail and ecommerce customers amounted to £0.08m in H1 2025.

During the period, MicroSalt Premium, initially targeting quick service and fast service restaurants, expanded its reach to include larger food service outlets, group purchasing organisations, and school districts. The Company confirmed that discussions are in the final stages with a major fast-food chain.

As of 30 June 2025, gross cash stood at £0.71m, compared with £0.24m as of 31 December 2024. This followed a fundraising of £2.29m (before expenses) in February 2025. A key use of funds was an investment of £0.95m in inventory to support higher expected sales orders in H2 2025. The Company noted that cash utilisation in H2 2025 will be lower than in H1, as delays in new product formulations have arisen due to the US FDA’s focus on the elimination of petroleum-based food colourings alongside sodium-reduction initiatives.

Global regulations supporting healthier foods and reduced sodium consumption continue to provide an encouraging operating backdrop. However, the Company has adjusted its 2025 sales estimate to £1.58m, down from a prior forecast of £1.98m, due to delays shifting certain rollouts from Q4 2025 into 2026. Looking ahead, MicroSalt now projects 2026 sales of £5.29m, based on current customer commitments and volume expectations, with continued acceleration into 2027.