Breville’s Share Prices Crash, Falling By 36.9% In The Last Month
Concerns are mounting over the Breville Group who last month saw a record climb in their share value only to see it wiped off this month.
The big appliance maker’s share price has dropped 39% from $25.50 on the 13th of February to $15.55 today.
This has far exceeded the benchmark’s S&P/ASX200 contraction of 23%.
Since the company posted its second half year results for 2019 – which reported that revenue had increased by 25.4% to reach $552m – there has been a sustained drop-off as the chart below shows.
In the past 52 weeks Breville’s shares have had a high of $26.18 and a low of $14.61.
Today, the Australian Financial Review reported that there are growing fears COVID-19 will disrupt the supply chains for Breville, among other retail brands.
Premier Investments and the Solomon Lew family have a combined 33% stake in Breville, which fell by $426 million. Premier Investments’ shares have also witnessed a drop of some 35% since mid-February.
Financial advisory firm Bell Potter said that Breville Group shares have been sold off too heavily following this sharp decline, according to Australian Financial Review.