Zoono profit plunges as covid demand loses momentum

Zoono profit plunges as covid demand loses momentum
A Transport for London worker spraying a Zoono product. (Image: Getty)
Denise McNabb
After strong demand for its sanitisers and surface protectants when covid emerged last year, ASX-listed New Zealand microbials supplier and developer Zoono Group's sales have lost momentum. As a result, net profit plunged 72.2% to $4.6 million on the back of a 29.2% drop in revenue to $27.1 million in the year to June 30.Managing director Paul Hyslop told shareholders in a podcast that the changing fortunes were down to too much of a good thing. He said after an Australian television interview in April last year about the opportun...

More Markets

NZ sharemarket up 0.4% after a2 Milk surge
Markets Market Close

NZ sharemarket up 0.4% after a2 Milk surge

The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.

Goldman Sachs downgrades Fletcher Building to sell
Markets

Goldman Sachs downgrades Fletcher Building to sell

Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).

Rayonier exits NZ with $1.2b forestry sale
Primary Sector

Rayonier exits NZ with $1.2b forestry sale

An investment firm bought the stake, which included 116,145 hectares of forestry.

NZME board told 'compromise or be rolled'
Markets

NZME board told 'compromise or be rolled'

Minority shareholders are falling in behind billionaire Jim Grenon's board coup.