Brief: Jatcorp Anticipates Sunnya Sales Will Be Impacted By About A$1 Mln For FY23

Jatcorp

28/04/2023 05:35

April 28 (Reuters) - Jatcorp Ltd  JAT.AX :
    * COMPANY ANTICIPATES THAT SUNNYA' SALES WILL BE IMPACTED BY
ABOUT
A$1M FOR FY2023
    * IMPACT ON SALES IN FY2024 IS DIFFICULT TO QUANTIFY
    * IMPACT ON SALES IN FY2024 WILL BE OFFSET BY INCREASED
SALES MADE
UNDER MOROKA BRAND
    * DOES NOT EXPECT IMPACT TO BE MATERIAL TO ITS FY2023 AND
FY2024
RESULTS GIVEN LIKELY OFFSET OF INCREASED SALES OF MOROKA PRODUCT
    * LOST SALES NOT TAKING INTO ACCOUNT INCREASED SALES MAY
AMOUNT TO
BETWEEN A$7M AND A$9M IN FY2024
    * FURTHER DEVELOPMENT IN LEGAL PROCEEDINGS BETWEEN SUNNYA
AND ITS
FORMER DIRECTORS
    * DEFENDANT CARRIED OUT VARIOUS ACTIONS WHICH CAUSED
SIGNIFICANT
DAMAGE TO SUNNYA'S ABILITY TO CONTINUE SUPPLY INTO CHINA MARKET
    * CO HAS AGREED TO ASSIGN TO SUNNYA ITS "MOROKA" TRADEMARK
IN VIEW
OF LEGAL PROCEEDINGS
    * ACTIONS BY DEFENDANT WILL AFFECT BRAND AS WELL AS RESTRICT
SUNNYA'S SALES INTO CHINA

Source text for Eikon:  ID:nASX4fVGmB 
Further company coverage:  JAT.AX 

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