Australia's Vita Life Sciences slips on subdued earnings forecast

Vita Life Sciences

09/12/2024 04:14

** Shares of Vita Life Sciences  VLS.AX  fall 4.4% to
A$1.95, their lowest since Feb. 27
    ** Stock set for worst session since late September, if
current trend holds
    ** Pharmaceutical firm sees pre-tax profit of A$11
mln-A$11.5 mln ($7.02 mln-$7.34 mln) for fiscal 2024
    ** Co posted pre-tax profit of A$12.5 mln in FY23
    ** Says product sales in China anticipated to fall slightly
short of expectations due to shifts in consumer buying behaviour
on traditional e-commerce platforms
    ** Adds co to reduce stock supply to current distributor in
China
    ** More than 19,400 shares change hands vs 30-day avg volume
of around 18,600 shares
    ** Stock up ~9.6% YTD, including current session's moves

($1 = 1.5669 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))