DataDot Technology slumps on bleak sales outlook
26/07/2022 05:03
* Australian assets identification solutions provider
DataDot Technology DDT.AX falls as much as 14.3% to A$0.006,
their lowest since June 1
** Says highly unlikely sales into Russia will resume during
FY23; expects further reduction in automotive-related royalty
revenue during 1H23 (https://bit.ly/3zum6mi)
** Says conflict in Ukraine and sanctions on Russia
resulting in erasure of royalty revenue and decrease in demand
from DDT's distributor's European clients
** Adds that impact of external factors on royalty revenue
will be evident in 1H23 results
** DDT hits lowest since June 1; down 36.4% this year, as of
last close
(Reporting by Rishav Chatterjee in Bengaluru)
((rishav.chatterjee@thomsonreuters.com))