Australia's Beam Communications jumps on reaffirming FY23 guidance

Beam Communications Holdings

27/07/2023 06:30

** Shares of Beam Communications Holdings Ltd  BCC.AX  jump
as much as 18% to A$0.18 - set to rise the most since July 25,
2022 if gains hold
    ** Mobile satellite solutions firm reaffirms FY23 EBITDA
guidance, sees FY23 to be substantially above FY21
    ** Expects FY23 revenue to be A$40 mln ($27.22 mln)
    ** Says trading conditions are tracking at or above co's
expectations and it believes this momentum will continue into
FY24
    ** Stock hits highest level since July 13
    ** More than 1.1 mln shares change hands, 13 times the
30-day average volume 
    ** Stock down 32.2% this year, as of last close

($1 = 1.4697 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))