Bubs Australia eyes best day in nearly 7 months on upbeat results, forecast

Bubs Australia

31/01/2024 24:43

** Shares of Bubs Australia  BUB.AX  rise as much as 18.2%
to A$0.130, on track to post their best day since July 5, if
gains hold
    ** Stock hits highest level since Jan. 15  
    ** Co's group gross revenue rises 79.7% for Q2 
    ** Says co on track to exceed FY24 net revenue forecast of
A$80 mln ($52.78 mln) 
    ** Says co remain firmly on track to achieve their guidance
for FY24
    ** Says co remains confident it will be cash flow positive
with positive trading EBITDA in FY25 
    ** About 11.7 mln shares change hand compared to 30-day
average trading volume of 1.8 mln shares 
    ** Stock down 15.4% YTD as of last close 
   


($1 = 1.5156 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))