Australia's DUG Technology rises on restructuring service unit

DUG Technology

02/11/2021 02:22

** Shares of DUG Technology  DUG.AX  rise as much as 4% to
A$0.790, their biggest intraday percentage gain since Oct. 27
    ** The software firm says it has restructured its service
business line to reduce fixed costs and enhance operational
efficiency  urn:newsml:reuters.com:*:nASX5LCbbT
    ** Restructure focused on 4 initiatives relating to office
space, projects, geographical business units and personnel - DUG
    ** DUG expects to realise cost savings in FY22 of ~$4.2 mln
as a result, with further savings in FY23
    ** Stock down ~37.2% this year, as of last close 

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