Australia's Cirrus Networks rises most in 11 months on record HY results

Cirrus Networks Holdings

07/07/2022 02:09

** Cirrus Networks Holdings  CNW.AX  rises as much as 14.8%
to A$0.031, eyeing its best session since Aug. 2, 2021
    ** CNW expected https://www.asx.com.au/asxpdf/20220707/pdf/45bmnp31ngnwvw.pdf
 to deliver record half-year revenue of A$59.6 mln, up 13.5%
    ** FY revenue, however, is expected to be A$104 mln, down 2%
YoY, owing to the lower first half
    ** Co expects continued improvement in FY23 earnings owing
to its debt-free balance sheet and A$9.6 mln net cash position
    ** Shares hit their highest levels since June 3
    ** About 752,000 shares change hands, compared with the
30-day average volume of almost 520,000 shares
    ** Stock has fallen about 3.6% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))