Cenntro Electric falls as freight costs fuel bigger loss
26/04/2022 13:54
** Shares of EV maker CENN.O , which merged with swim-wear
co Naked Brand last year, fall 10.6% to $1.69 premarket
** Co reports full-year net loss attributable to
shareholders of $16.4 mln, versus $5.2 mln a year ago, hit by
higher expenses due to rising freight costs
** Total operating expenses rose 60% to $18 mln, hurt by
higher material and shipping costs, shipping container shortages
and supply-chain disruptions
** Shares down ~64% YTD
(Reporting by Manas Mishra in Bengaluru)
((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))