Australia's ikeGPS rises on revenue growth outlook

Ikegps

07/05/2024 03:23

** Shares of ikeGPS  IKE.NZ  rise as much as 9.5% to
NZ$0.46, set for their best day since Dec 22, if current gains
hold
    ** Stock hits highest level since March 7 
    ** The platform technology firm expects total subscription
revenue growth of more than 50% in the FY25 period to March 2025
    ** Says five new IKE PoleForeman subscription agreements
placed with major U.S. Electric Utilities, with expected total
contract value of ~NZ$4 mln ($2.40 mln)
    ** About 148,500 shares change hands, compared with the
30-day average volume of 17,087
    ** Stock has fallen 19.2% this year, as of last close

    ($1 = 1.6644 New Zealand dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))