NZ's ikeGPS Group eyes best day in 1-1/2 years on strong quarterly revenue

Ikegps

03/05/2022 24:23

** Shares of ikeGPS Group  IKE.NZ  soar as much as 13.3% to
NZ$0.85, posting their biggest intra-day percentage gain since
Oct. 2020
    ** Industrial machinery maker says its fourth-quarter
revenue for FY22 rose 114% to NZ$6 mln ($3.86 mln) urn:newsml:reuters.com:*:nFWN2WU1SH
    ** Co expects NZ$15-NZ$17 mln of the signed contracts
backlog in place will be recognised as revenue in FY23 
    ** Stock hits its highest since Feb. 1 
    ** IKE is down 10.7% this year, as of last close 
    


($1 = 1.5557 New Zealand dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))