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Argus shares slump 17% on news of disrupted sales

Argus shares slump 17% on news of disrupted sales

Print management company Argus Solutions (ASX:ASV) shares have slumped 16.7% since the company announced that sales had been disrupted at subsidiary Moore Printing.

Moore’s primary supplier and sister company, Paragon Printing, entered voluntary administration last month. As a result, an embargo had been putting place preventing access to Argus’ warehouse in Wodonga.

While Argus last month won an injunction against the order, and goods resumed flowing to Moore’s customers on March 26, the cessation of production significantly affected Moore’s earnings during the month.

The company also reached a supply agreement with Paragon’s voluntary administrator allowing Paragon to re-open.

ASV shares are currently trading at $0.150.

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Tags voluntary administrationParagon PrintingArgus SolutionsMoore printing

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