Australia's Beam Communications eyes best day in six months on upbeat forecast

Beam Communications Holdings

23/01/2023 02:31

** Shares of Beam Communications  BCC.AX  jump as much as
17.7% to A$0.300, seeing their best day since July 25 if gains
hold 
    ** Satellite equipment maker says expects HY earnings before
interest, tax, depreciation and amortisation of ~A$2 mln ($1.40
mln)
    ** Co had earlier forecast A$2.1 mln EBITDA for entire FY23 
    ** Says positive forecast due to strong sales of its new
Certus device, among others; Certus is an iridium satellite
device 
    ** Expects strong momentum to continue in H2 as well
    ** Sees H1 revenue to A$20 mln, compared with A$12.5 mln in
prior corresponding period
    ** BCC stock hits highest level since Aug 9 
    ** Stock up 13.3% YTD, as of last close, after a 46.4% drop
in 2022
($1 = 1.4314 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))