Australia's AD1 hits 6-week high on robust FY24 outlook

Adneo

26/07/2023 04:12

** Shares of AD1 Holdings Ltd  AD1.AX  climb as much as 40%
to A$0.007, their highest since June 13
    ** IT firm says undertook a minor operational restructuring
with a clear objective to target profitability in FY24
    ** Posts unaudited total rev of ~A$7 mln ($4.7 mln) for FY23
    ** Cash receipts for the quarter is A$2.3 mln, up 16% YoY
    ** Stock posts its biggest intraday pct gain since June 13
    ** Stock down 50% this year, as of last close
 
 ($1 = 1.4799 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))