Infection control business Nanosonics posted disappointing half year numbers today with revenue falling 11% on 1H20. There was a marked fall in installments made in the final quarter of last financial year which continued into the first half, though the company noted a rebound into the 2nd quarter. A significant portion of the miss was driven by a surging AUD with most sales made in North America. While the currency headwind looks set to continue, the underlying business getting some traction, while new product launches are expected to accelerate this. We are positive NAN, though our AUD call keeping us on the sidelines for now.
We are becoming more positive NAN into recent lows ~$5
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