Australia's CPT Global tanks on bleak FY outlook

CPT Global

27/04/2023 05:22

** Shares of CPT Global Ltd  CGO.AX  down 13.9% at A$0.280,
their lowest level since Feb. 1, 2021
    ** Stock opened 33.9% lower at A$0.215, its biggest pct loss
since March 27, 2020
    ** Co sees full year revenue to be lower than FY22's A$29.9
mln ($19.76 mln) and a loss in H2
    ** Says market conditions deteriorated sharply in Q3 
    ** Adds North American business was impacted with monthly
revenue dropping by around 40% from Q2 to Q3
    ** At day's low, stock was at its weakest level since Nov
11, 2020
    ** CGO down 7.1% YTD, as of last close

($1 = 1.5131 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))