Australia's Redbubble jumps most in 3 years on better quarterly update

Articore

12/10/2023 24:55

** Shares of Redbubble  RBL.AX  jump as much as 39.1% to
A$0.64, set for best day since June 2020 
    ** Online marketplaces for artists says Q1 underlying cash
flow rose A$16.9 million ($10.85 million) to positive A$0.7 mln
cash flow
    ** Co says, gross profit after paid acquisition (GPAPA) for
Q1 rose 14% to A$26.5 million
    ** Adds, operating expenses were A$23.3 mln, 32% lower than
the pcp
    ** Co reaffirms FY24 GPAPA margin guidance, to be between
23% and 26%
    ** About 523,120 shares change hands, compared with the
30-day average volume of 124,040
    ** Stock down 11.5% YTD as of last close    
 


($1 = 1.5579 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))