Australia's Booktopia hits over 2-week low on flagging costs

Booktopia

29/11/2021 03:22

** Shares of online book retailer Booktopia Group Ltd
 BKG.AX  fall as much as 2.3% to A$2.120, their lowest since
Nov. 11
    ** Co says costs associated with its management of lockdowns
and continued investment in stock and facilities, among others,
have resulted in some additional expenses  urn:newsml:reuters.com:*:nASX6n9RyW
    ** Says these expenses will weigh on margins in the first
half, although the impact will not be significant
    ** Co says seeing some of the largest daily sales figures in
its history, with current-quarter revenue growth tracking in
high teens
    ** Expects growth to sustain for the remainder of FY22
    ** Nearly 91,900 shares change hands, vs the 30-day avg
volume of more than 68,400 shares
    ** Stock down 16.5% this year, as of last close

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))