Stagnating sales and delayed rights issue adds to Zoono’s woes

Stagnating sales and delayed rights issue adds to Zoono’s woes
Zoono did it tough after covid induced boom. (Image: Getty)
Denise McNabb
A mounting stockpile of unsold product with looming expiry dates and the postponement of a non-renounceable rights issue due to undisclosed “external circumstances” are the latest woes for cash-strapped Australian securities exchange-listed New Zealand hand and sanitiser manufacturer Zoono Group.In its second quarterly report to December 2023, released Wednesday, the company acknowledged significant work needed to be done before it was cashflow positive and profitable.The group reported a $514,000 net cash deficit on operating activ...

More Markets

Robust update from Tauranga Port perks up NZX
Markets Market close

Robust update from Tauranga Port perks up NZX

Numbers hide 'a lot of paddling' going on under the surface. 

Graham Skellern 25 Oct 2024
Jarden upgrades Michael Hill ahead of Christmas
Finance

Jarden upgrades Michael Hill ahead of Christmas

Since a Wednesday trading update, company's shares have risen 9%.

Gregor Thompson 25 Oct 2024
NZ Windfarms buys NZ's oldest windfarm
Infrastructure

NZ Windfarms buys NZ's oldest windfarm

Bottom end of ebitdaf guidance is $1.5m higher than previous estimate.

John Anthony 25 Oct 2024
Winton chair defends Sunfield development
Property

Winton chair defends Sunfield development

Winton wants to develop the Sunfield masterplanned community at Takanini.

Gregor Thompson 25 Oct 2024