Australia's Advance ZincTek hits 8-year low on weaker sunscreen orders
BUZZ-Australia's Advance ZincTek hits 8-year low on weaker sunscreen orders ** Shares of Australia's Advance ZincTek ANO.AX tumble 4% to an eight-year low of A$0.60 at open, stay pinned at that level
** Co, which manufactures zinc oxide dispersions and zinc oxide powder for personal care sector, says sales of its sunscreen products for Veganic, an Australian skincare company, have declined materially in Q1 FY27
** Logs 71% decline in Q1 FY27 Australia revenue
** Attributes sales decline to comments made in 2025 by MooGoo, another skincare products maker, "about zinc used in Veganic's sunscreen products, and the subsequent involvement of the Therapeutic Goods Administration in relation to Veganic's product labelling"
** Says several Veganic customers cancelled orders following the comments and regulatory involvement, which in turn led Veganic to cancel corresponding orders with ANO
** YTD, shares down over 35%
(Reporting by Shruti Agarwal in Bengaluru)
Recent news on Advance Zinctek
See all newsAustralia's Advance ZincTek hits 8-year low on weaker sunscreen orders
Brief: Advance Zinctek Expects To Report A Profit Before Tax Of A$2.294 Million For FY26
Brief: Advance Zinctek Confirms Capital Return Of A$0.02 Per Share
Brief: Advance Zinctek Responds To TV Broadcast On Allegations Concerning Zinc Oxide Supplied By ANO In 2024
Brief: Advance Zinctek Says FDA Identifies GMP Compliance Issues Requiring Remediation