Australia's Beam Communications eyes best day in 2 weeks on upbeat forecast

Beam Communications Holdings

30/11/2022 04:56

** Shares of Beam Communications Holdings  BCC.AX  jump up
to 6.5% to A$0.245; set for their best day since Nov 15, if
gains hold
    ** Stock hits its highest level since Nov 22
    ** The satellite equipment maker expects EBITDA and margins
to be significantly stronger in fiscal 2023, compared to prior
year, on strong sales
    ** Co records Q1 sales of A$8 mln ($5.36 mln) and says cost
pressure and supply chain snarls are easing 
    ** Stock down 45.2% this year, as of last close
($1 = 1.4921 Australian dollars)
 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))