Australia's Comms Group sees best day in over a year on FY21 forecast

Comms

10/08/2021 01:58

** Shares of cloud communications provider Comms Group
 CCG.AX  rise as much as 28.8% to A$0.085, on track for their
biggest intraday percentage gain since August 2020
    ** Says it now expects FY21 EBITDA to be around A$5 mln
compared to A$2.2 mln a year ago 
    ** Co says it acquired Melbourne-based telecom service
provider Switched On Australia for A$4.3 mln ($3.15 mln)
 urn:newsml:reuters.com:*:nASX9KQrNZ
    ** Stock hits highest since May 4 and is on track for second
consecutive session of gains 
    ** Co's unaudited FY21 revenue rose 30% to A$25.2 mln 
    ** Stock down 34% this year, as of last close 


($1 = 1.3644 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))