Australia's Ambertech posts worst day in over 1 year on tepid HY earnings forecast

Ambertech

07/12/2021 01:17

** Shares of audio-video solutions distributor Ambertech
 AMO.AX  slide as much as 16.3% to A$0.335, post their worst
intraday session since Oct 26, 2020
    ** Co sees EBIT for HY ending Dec 31 between A$3.2 mln
($2.25 mln) and A$3.4 mln, lower than the EBIT of A$3.8 mln
earned last year  urn:newsml:reuters.com:*:nGLF2vYCxp
    ** Forecast HY revenue in the range of A$38 mln to A$40 mln,
comparable with revenue of A$38.9 mln last year
    ** Shares hit their lowest since Oct 11
    ** Volumes are 2.5 times the 30-day average of 227,787
shares
    ** As of last close, stock more than doubled in value this
year

    ($1 = 1.4201 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))