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Why the Clover (ASX:CLV) share price is climbing 5% this morning
Aaron Teboneras | March 16, 2021 10:46am |
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Clover Corporation Limited(ASX: CLV) share price is surging this morning following the release of its results for the first half of FY21.
At the time of writing, the specialist ingredients company’s shares have climbed 5.62%, trading at $1.41.
Let’s take a closer look and see how the company performed over the period.
What were the financial highlights?
The Clover share price is climbing this morning despite the group reporting a set of negative numbers.
For the six months ending 31 January 2021, Clover delivered total net sales revenue of $29.4 million, reflecting a 21.7% decrease on the prior corresponding period (pcp). The soft result was primarily driven by difficult trading conditions caused by COVID-19 across the infant formula industry.