Bubs Australia tumbles most in 2 months as quarterly revenue drops

Bubs Australia

31/01/2023 24:09

** Shares of dairy firm Bubs Australia  BUB.AX  fall as much
as 12.7% to A$0.31, posting biggest intraday pct drop since Nov.
28, 2022
    ** Q2 group gross revenue falls 28% to A$14.3 mln ($10.09
mln), gross revenue from China down 66% 
    ** Co attributes China performance to "recent lockdowns and
supply disruptions due to increased COVID outbreaks in major
cities" 
    ** Expects China performance to pick up in H2 following the
easing of restrictions 
    ** Stock hits its lowest level since Jan. 19
    ** Trading volumes cross 2 times the 30-day average, with
5.2 mln shares traded so far
    ** As of last close, BUB stock up 18.3% YTD 
($1 = 1.4172 Australian dollars)
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))