Australia's HighCom jumps on expectations of turnaround to profitability in H2

Highcom

30/05/2024 03:02

** Shares of HighCom  HCL.AX  rise as much as 10.3% to
A$0.160, on track for their best day since April 24, if gains
hold
    ** International defense services provider sees a turnaround
to profitability in second half 
    ** Sees positive EBITDA earnings of A$1 mln ($661,100.00) to
A$3 mln in 2HY 
    **  Co expects to continue to trade profitably in FY25 based
on current sales activity
    ** However, co sees FY24 EBITDA to be a A$10 mln to A$12 mln
loss after posting a loss in the first half
    ** About 146,000 shares change hand compared to 30-day
average trading volume of 127,753 shares 
    ** Stock down 62.3% YTD as of last close 
   


($1 = 1.5126 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))