Australia's DUG Technology leaps on swinging to HY profit

DUG Technology

28/02/2023 04:53

** Shares of DUG Technology  DUG.AX  rise as much as 8.1% to
A$0.87, their best intraday gain since Feb. 2
    ** DUG, which makes software tech for the resources sector,
says it swung to a half-yearly net profit after tax of $2.6
million, from a loss of $5.8 million 
    ** Half-yearly revenue rises 48% to $25.2 million 
    ** DUG Managing Director Matt Lamont attributes result to
improved oil and gas exploration market, strong order intake
    ** Says early trading results for the beginning of the next
half-year have been "encouraging"
    ** As of last close, DUG up 27.8% YTD 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))