Bubs Australia set for best day in 1 year on revised FY23 outlook for US unit

Bubs Australia

21/06/2023 02:35

** Shares of Bubs Australia  BUB.AX  advance as much as
20.7% to A$0.175, on track for their best day since May 30,
2022, if gains hold  
    ** The dairy firm forecasts FY23 U.S. net revenue to be at
the upper-end of its previous outlook range of between A$20 mln
($13.56 mln) and A$22 mln, vs A$8.1 mln reported in FY22
 urn:newsml:reuters.com:*:nFWN38C1MU
    ** Co says it remains on track to meet all regulatory
milestones for permanent access to the U.S. market
    ** Shares hit highest since June 15 
    ** Stock down ~51.7% this year, as of last close

     ($1 = 1.4751 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))