Market was expecting to see more profit in May/June - perhaps another 5m.
However, I wouldn't stress. Markets are forward looking for the most part, so once this round of selling occurs, then people will soon forget about May/June and look towards the new financial year...and with COVID-19 unfortunately taking over Australia, the US and India (key markets for ZNO) then I think these results will soon be forgotten and ZNO will bounce back sharply.
The yearly report is also likely to be issued in August, and I am guessing we are going to see increased revenue forecasts due to, among other things, ZNO signing a direct contract with Ali Baba (Amazon of China) and opening a TMall flagship store, buying out its US distributor and moving into bigger space in the UK.
