Beston Global Food (ASX:BFC) shares soared as much as 25% to hit A$0.010, recording its highest price since August 10.

The surge comes as the milk supplier reported an impressive 34% increase in dairy net sales from continuing operations for the financial year 2023 (FY23).

Furthermore, the company’s trading EBITDA significantly rose to A$4.1 million in FY23, marking a notable increase from the previous year.

The stock recorded its biggest single-day percentage gain since August 9.

Additionally, Beston Global Food stated it had received funding of up to A$70 million from specialized funding partners.

Despite today’s positive performance, the company’s stock has still fallen 66.2% this year as of last close.

Beston Global Food is a company dedicated to providing high-quality dairy products globally.