NZ's AFC Group hits near 1-month low as FY loss widens

AFC group

29/06/2020 05:11

** AFC Group Holdings Ltd  AFC.NZ  slumps as much as 50% to
NZ$0.001, its lowest since June 3
    ** Company, which specialises in food research and
development, reports unaudited FY20 net loss attributable of
NZ$1.2 mln ($771,480.00), vs loss of NZ$980,148 last year
 urn:newsml:reuters.com:*:nNZW6Nkz7s
    ** Reports FY20 total revenue NZ$1.2 mln, down 53%
    ** In the 2021 financial year, AFC is aware of how uncertain
the future is - company
    ** Says all AFC directors will continue to take a 30%
reduction in remuneration
    ** More than 4 mln shares change hands, vs 30-day average
volume of about 904,200
    ** Stock biggest percentage loser on the NZX All Capital
Index  .NZCI 
    ** Stock has doubled this year, as of last close

($1 = 1.5555 New Zealand dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))