Australia's Close the Loop rises on upbeat forecast, HP deal

Close The Loop

23/11/2023 04:21

** Shares of Close the Loop  CLG.AX  rise as much as 14.1%
to A$0.365, set for best day since Feb. 17, if gains hold
    ** Recycled product-maker expects FY24 revenue and Earnings
before interest, taxes, depreciation, and amortization (EBITDA)
to be 47% and 77% higher than FY23, respectively 
    ** Co says it has also signed a three-year contract with HP
Inc  HPQ.N  for multiple products on a revenue-share model 
    ** About 690,179 shares change hands, compared with the
30-day average volume of 451,343 
    ** Stock has fallen 16.9% this year, as of last close

 (Reporting by Sneha Kumar  in Bengaluru)
 ((sneha.kumar@thomsonreuters.com;))