- Biotech company Zoono Group (ZNO) has had an impressive fourth quarter during the current pandemic
- The group sells antimicrobial solutions, such as hand and surface sanitisers, which has been in popular demand due to COVID-19
- Zoono’s revenue for the quarter was NZ$20.9 million, which is up NZ$5.2 million from the March quarter
- Cash at the bank has nearly doubled to NZ$10.3 million from third quarters cash of NZ$5.7 million
- Last month, the company had to boost its production and order fulfilment capacity to keep up with the orders for its hand and surface sanitisers
- Despite this positive news, Zoono is down 10.51 per cent and is trading for $2.65 per share
Biotech company Zoono Group (ZNO) has had an impressive fourth quarter during the current pandemic.
The group sells antimicrobial solutions, such as hand and surface sanitisers, which has been in popular demand due to COVID-19.
The company said the only major issues it had during the pandemic was the level of enquiry it had for its products.
Zoono’s revenue for the quarter was NZ$20.9 million (around A$19 million), which is up NZ$5.2 million (approx. A$4.8 million) from the March quarter.
Cash at the bank has nearly doubled to NZ$10.3 million (approx. A$10 million) from third quarters cash of NZ$5.7 million (around A$5.35).
The company reported its online sales for the quarter was NZ$3.3 million (around A$3 million).
Last month, the company had to boost its production and order fulfilment capacity to keep up with the orders for its hand and surface sanitisers.
Australia and New Zealand
Zoono has seen strong sales continuing in Australia and New Zealand for both its business to business (B2B) and business to consumers (B2C) markets.
This quarter the company became part of the Qantas “Fly Well” program, which had its wipes individually wrapped and given to passengers onboard. The company is expecting to be on other global airlines in the near future.
Through its channel partner, WINC, Zoono has seen significant sales in its childcare and education sectors, while the aged care and pubic transport sectors are currently being targeted.
The company also signed a distribution agreement with Johns Lyng Group (JLG). Johns Lyng intends to make Zoonos products more broadly available in commercial Australian markets.
The U.K. and Europe
Positive momentum continues within the U.K. and Europe, as the team made NZ$7.8 million (A$7.3 million) in revenue for the quarter.
The U.K. team has been targeting the management, transport and healthcare sectors.
Zoono has seen strong sales from Rentokil Initial, who are rolling out the products globally to its healthcare clients.
Asia and China
The company’s channel partner for the association of Southeast Asian Nationals (ASEAN), IdsMED, is making good progress and is ordering regularly.
In China, Zoono has reshaped its business as it intends to take direct control of its China business and build a business development team for that business.
The company has signed a direct deal with Ali Baba in China and will soon be opening an online store on Ali Baba later on this year.
The U.S. and Canada
Zoono has bought out its U.S. distributor and is now selling to the U.S. through its subsidiary, Zoono Holdings USA.
The goal is to grow its North American business over the next three years. It aims to replicate the success of the U.K. operation. Expansion to South America is also on the cards.
India, The Middle East and North Africa
The company has appointed its former Middle East agent, Dennis Montgomery, to Regional Manager. Dennis will be responsible for the Middle East, Africa, Turkey, India, Pakistan and Bangladesh.
Zoono intends to build a business development team around Dennis and grow its business in the region. It has already signed a distribution deal with Al Rabban Captial to sell its products in the Middle East and North African regions.
Despite this positive news, Zoono is down 10.51 per cent on the market this afternoon and is trading for $2.65 per share at 12:43pm AEST.