Australia's Nuchev hits record low as Q3 revenue slumps on Daigou woes

Nuchev

26/04/2021 05:42

** Shares of Nuchev Ltd  NUC.AX  slide 1.6% to A$0.605, a
record low
    ** The health and nutrition firm posts Q3 net revenue of
A$3.4 mln, down over 40% from yr ago  urn:newsml:reuters.com:*:nASX83lYcS
    ** Says result impacted strongly by the sharp contraction in
China-based Daigou dairy channel as a result of COVID‐19 impacts
 
    ** Says co has re‐focused its growth strategy on its other
existing channels, with uncertainty around Daigou meaning it is
expected to have a smaller impact on the business going forward
    ** Stock extends losses for fifth straight session; down
~33% so far this year, as of last close

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))