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Vmoto Shares Up 23 Percent Following Positive Cash Reporting
International orders accelerated electric scooter sales growth by nearly 100 percent compared to the second quarter.
Vmoto (ASX:VMT), an electric scooter company, announced that international sales have helped drive 94 percent quarter-over-quarter sales growth. Core to its growth have been sales to China, accounting for 1,188 units compared to 30 in the previous quarter. Cash figures came in as positive for the quarter.
As quoted in the press release:
The company delivered a significant increase in total sales in 3Q19, with 6,027 units sold, representing an increase of 94% on 2Q19. FOr 3Q19, 4,839 of these units were sold into international ,arlets, representing an increase of 57% on 2Q19 and an increase of 77% on 3Q18.
As a result of continuous order flows from customers, Vmoto’s sales continue to be on an upward trend and the Company expects this sales trend to continue in the coming quarters.
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