ASX-listed Straker Translations marks best day in 3 months on upbeat results

Arbitr

25/11/2021 02:19

** ASX-listed shares of NZ-based Straker Translations Ltd 
 STG.AX  jump as much as 7.5% to A$1.715 after co reports
revenue and gross profit growth
    ** Stock marks its biggest intraday percentage climb since
Aug 25 
    ** The translation services provider says its HY revenue
rose 57.6% to NZ$23.3 mln ($16.03 mln), helped by acquisitions,
most notably that of U.S.-based translation provider Lingotek 
 urn:newsml:reuters.com:*:nASXHGHdZ 
    ** Reports HY gross profit growth of 73% to NZ$13.1 mln
    ** Co also reaffirmed its FY22 revenue outlook of above
NZ$50 mln 
    ** Stock hits highest level since Oct 18
    ** About 189,000 shares change hands, more then fifteen
times the 30-day average 
    ** Straker stock up 8.1% so far this year, as of last close 
    

    ($1 = 1.4537 New Zealand dollars)
    

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))