Australia's Advanced Braking Technology rises on revenue growth

Advanced Braking Technology

24/04/2024 04:56

** Shares of Advanced Braking Technology  ABV.AX  rise as
much as 8.3% to A$0.052, set for their best day since Dec. 22 -
if current gains hold
    ** Stock hits highest level since March 7
    ** Vehicle braking solutions provider reports quarterly
revenue from product sales of A$3.56 mln ($2.32 mln), up 12.5%
from pcp
    ** Co, however, says net profit after tax fell 6% to A$1.2
mln
    ** More than 780,800 shares change hands, compared with the
30-day average volume of nearly 221,700
    ** Stock down 7.7% this year, as of last close

($1 = 1.5349 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))