Webuy Global Reports Record Revenue and 253% Increase in Gross Profit for the First Half of 2024
WEBUY GLOBAL LTD. (WBUY)
Company Research
Source: GlobeNewswire
Singapore, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce retailer, today provided a business update and announced its interim financial results for the six months ended June 30, 2024. Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, stated, “I am pleased to report that we achieved record revenue for the first half of 2024. This performance reflects the continued rollout of our social e-commerce platform across Southeast Asia. Revenue growth was driven by an increase in grocery sales and the success of our travel packages. Due to the high margins on our travel services, I am also pleased to announce a 253% increase in gross profit. It is important to note that these results were achieved during the first half of the year, which has historically been a slower season for us. We anticipate even stronger performance in the second half, as evidenced by our success at the NATAS Fair
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