Bug killer Zoono is up 18pc after hitting a maiden full-year profit
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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”.