Advance Zinctek Ltd Reports Significant Revenue Decline
Key points
- Australian revenue down 71% in Q1 FY27
- Decline due to media reporting on MooGoo's comments
- ANO preparing a claim against MooGoo for losses incurred
- Board believes Q1 results not indicative of full-year performance
Full summary
Advance Zinctek Ltd (ANO) announced a substantial 71% decrease in Australian revenue for the first quarter of FY27. This decline follows media reports in December 2025 about MooGoo's comments on zinc in Veganic's sunscreen products and subsequent TGA involvement. As a result, several customers canceled orders, leading ANO to cancel corresponding orders with Advance Zinctek. The company is preparing a claim against MooGoo for the losses incurred and has engaged legal counsel. The Board believes the first quarter results do not predict the first half or full-year performance.
Outlook
The Board does not expect the first quarter results to predict the first half or full year performance.
Summary generated by a large language model. Please interpret with care.