NZ's ikeGPS Group gains on 1H update, forecast

Ikegps

18/10/2022 03:23

** Shares of ikeGPS Group Ltd  IKE.NZ  jump as much as 8.33%
to NZ$0.910, their biggest intraday pct gain since Sept. 30
    ** Industrial machinery maker posts 1H 2023 revenue of about
NZ$15.4 million ($8.70 million), up 170%  urn:newsml:reuters.com:*:nFWN31I3FD
    ** Co says revenue and growth outlook remains robust based
on a strong sales opportunity funnel and signed contract backlog
    ** Says it anticipates a healthy run rate of new contracts
to close and be recognised in FY23 
    ** Says it expects NZ$8-NZ$11 million of signed contract
backlog to be delivered and recognised over next two quarters of
FY23
    ** Stock has remained flat on YTD basis, as of last close 
($1 = 1.7696 New Zealand dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))