Australia's Damstra falls after posting bigger HY loss

Damstra Holdings

28/02/2022 02:10

** Shares of workforce management solutions provider Damstra
Holdings  DTC.AX  fall as much as 7.4% to A$0.24
    ** Co posts a bigger HY loss of A$56 mln ($40.22 mln),
compared to a loss of A$5.5 mln a year earlier  urn:newsml:reuters.com:*:nFWN2V108W
    ** Results hurt by increased salary costs of developers and
costs associated with strategic investments made to scale up and
build out the U.S. and UK businesses
    ** Shares to mark worst day since Nov. 26, if losses hold
    ** Stock down ~26% so far this year after declining 77% in
2021

($1 = 1.3924 Australian dollars)

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))