Australia's Advance ZincTek sees best day in 4 months on upbeat earnings

Advance Zinctek

12/12/2022 04:29

** Shares of Advance ZincTek Ltd  ANO.AX  climb as much as
6.8% to A$2.35, set to mark their best session since Aug. 12, if
gains hold
    ** Sunscreen ingredient maker says sales revenue for the 5
months to Nov 2022 was up 14.8% on the entire H1 FY22 of A$5.6
mln  ($3.79 mln)  urn:newsml:reuters.com:*:nASX2nn0S3
    ** Says it is "optimistic that second half FY23 and FY24
will see continuous improvement" based on increased sales in
Europe, U.S. and India, among other factors
    ** Adds, net profit before tax for 5 months to Nov is
similar to the first half FY22 of A$1.95 mln, which included a
one-off profit on sale of IP of A$800,000
    ** ANO hits highest level since Sept. 8
    ** Stock down 33.3% this year, as of last close
($1 = 1.4758 Australian dollars)
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com))