MicroSalt shares surge without company updates

On Friday, MicroSalt plc (AIM:SALT), a prominent provider of low-sodium salt alternatives, saw a significant rise in its share price. The company has issued a statement clarifying that there has been no new trading or operational information since its interim results announcement on September 27, 2024. MicroSalt reiterated key details from that previous announcement, including advancements in business negotiations and product placements.

The company reported progress in its bulk business-to-business (B2B) sector, having secured volume commitments from major food manufacturers totaling approximately 92 metric tons in the third quarter. MicroSalt anticipates further advancements in the fourth quarter with companies from Mexico, the United Kingdom, and the United States. Additionally, by the end of October, MicroSalt bulk products are slated to be directly available to customers via the Ingredients Online e-commerce platform, with distribution from warehouses in New Jersey and California.

In the business-to-consumer (B2C) market, MicroSalt has successfully placed its shakers and SaltMe! low sodium crisps in roughly 600 new U.S. stores during the third quarter. This expansion includes retailers such as Winn Dixie, Fresh Thyme, Sedano, Northwest Grocer, Cub Foods, and Central Market. Consequently, MicroSalt products are now available in approximately 1,200 U.S. stores.

The company also highlighted a strong pipeline with significant customer prospects at advanced stages, which could lead to MicroSalt being nominated as a supplier for larger product lines with key national and multinational companies.

MicroSalt addressed recent speculative comments made on a UK Investor Magazine podcast, where the interviewee expressed hope for "blockbuster B2B and retail distribution agreements in the coming months." The company emphasized that these remarks were the personal opinion of the interviewee and not a reflection of official company statements. MicroSalt affirmed its commitment to providing updates as appropriate in the future.

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Source: Investing.com