Bubs Australia hits near two-month low as quarterly revenue declines

Bubs Australia

Today 24:04

** Shares of Bubs Australia BUB.AX fall as much as 5.6% to A$0.084, their lowest level since August 31 
** Stock hits its biggest intraday pct loss since October 15
** Infant formula maker reports Q1 net revenue of A$23.1 million ($16.31 million), down 9.8% y/y
** Operating cash outflow widens to A$6.0 million from A$4.4 million a year earlier
** Says delayed re-entry into Singapore and Vietnam, timing differences between sell-in and sell-out, and inventory investment weighed on cash flow
** YTD, stock down 38.6%, including the session's moves
     
($1 = 1.4162 Australian dollars)

(Reporting by Paridhi Minda in Bengaluru)
((Paridhi.minda@thomsonreuters.com;))