Bubs Australia set for best day in 5 weeks on HY revenue jump

Bubs Australia

28/02/2023 01:37

** Shares of Bubs Australia Ltd  BUB.AX  rise as much as
4.9% to A$0.268, on track for their best day since Jan 13, if
gains hold
    ** The infant formula maker posts first-half revenue up 44%
on pcp
    ** Co, however, notes that China sales were significantly
affected by prolonged lockdowns and channel disruption during
HY, down 48% pcp
    ** Expects momentum to build in second half and to work
through inventory
    ** Says will be actively seeking to recover a portion of its
doubtful debts
    ** Stock down 15% this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))