Business
Here’s why the Bubs (ASX:BUB) share price is surging 10% higher
The Bubs Australia Ltd (ASX: BUB) share price is surging notably higher on Thursday.
At the time of writing, the infant formula company’s shares are up 10% to 67 cents.
Why is the Bubs share price surging higher?
The Bubs share price is on the move today following the release of its second quarter update.
For the three months ended 31 December, Bubs reported a 12% decline in gross revenue to $12.8 million. This was despite the company reporting a 34% increase in China cross border ecommerce (CBEC) sales and strong sales growth in Australian supermarkets compared to the same period last year.
In respect to supermarket sales, management notes that Bubs is the fastest growing infant formula manufacturer across Coles Group Ltd (ASX:…
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