Australia's Gefen International hits 4-mth low on posting wider loss

Gefen International AI

28/02/2023 03:49

** Shares of Israel-based software firm Gefen International
A.I. Ltd  GFN.AX  drop as much as 13.6% to A$0.038, their lowest
level since Oct. 31
    ** GFN posts annual net loss attributable of $9.3 million,
wider than $2.4 million in 2021 
    ** Annual revenue falls 4% to $12.5 million 
    ** Adds it is in the process of a strategic review; since
listing in July 2021, stock has lost about 95% of its value 
    ** Stock logs worst intraday loss since Feb. 2
    ** As of last close, GFN down 20% YTD

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