You might be interested in
News
Market Highlights: US megacaps up on dip buying ahead of earnings; and 5 ASX small caps to watch
News
Closing Bell: Cettire rejects AFR claims, GDP's gone back to the 90's and ASX200 ends above the ice
News
Tech
Kiwi germ killer Zoono moved ahead 18 per cent in early trade after telling investors it expects to report a maiden full-year profit.
Zoono makes anti-microbial sprays designed to disinfect surfaces, kill mould — and even treat acne.
Its product range is based around the “Zoono Molecule: a unique, antimicrobial molecule that bonds to any surface and kills pathogens including bacteria, viruses, algae, fungi and mould.”
Today the business told investors it expected $NZ3.4 million revenue compared to about $NZ839,000 last year — a jump of more than 300 per cent.
“The group has also made an unaudited maiden profit for the year,” Zoono told investors.
June quarter cash was $NZ487,000 — up from $NZ190,000 in the previous quarter.
But the business still reported cash-burn of about $2 million for the year including spending of $411,000 in the June quarter.
That was partly because of “higher product manufacturing and operating costs for the quarter … a result of a shipment to Korea and higher associated costs”.
Sales in China were also “slower-than-expected” prompting Zoono to look for aditional sales options beyond its local sales represenative “including selling direct cross border into China”.