Australia's BikeExchange gains on strong Feb eCommerce revenue

Bikeexchange

22/03/2023 24:42

** Shares of BikeExchange Ltd  BEX.AX  rise as much as 22.2%
to A$0.011 - set for best day since Feb. 28, if gains hold
    ** Cycling-focused marketplaces co says its eCommerce
revenue for Feb 2023 increased 78% compared with pcp
    ** Co also says, commenced further restructuring changes,
which would result in additional (once-off) cash outflows in the
last four months of FY23
    ** Says total costs for Feb are down 48% vs pcp
    ** BEX at its highest level since March 15
    ** Stock is down ~31% this year as of last close
 

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