Bubs Australia falls as FY loss widens

Bubs Australia

31/08/2023 06:47

** Shares of dairy firm Bubs Australia  BUB.AX  fall as much
as 5.6% to A$0.170, their lowest level since June 30 
    ** Stock sees worst day since July 27
    ** Bubs posts FY loss after tax of A$108.4 mln ($70.24 mln)
vs A$11.4 mln loss a year earlier
    ** Co posts 33% drop in FY revenue from ordinary activities 
    ** Says it is on track to cut monthly cash burn to A$2 mln
from A$5 mln from Q2 FY24
    ** BUB down 40% YTD, as of last close 
   


($1 = 1.5432 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))