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IFM - Infomedia News Story

A$1.44 0.0  2.9%

Last Trade - 3:13am

Sector
Technology
Size
Small Cap
Market Cap £277.3m
Enterprise Value £228.3m
Revenue £50.0m
Position in Universe 417th / 1946

BUZZ-Australia's Infomedia: RBC calls FY outlook 'better than feared', shares jump

Tue 1st June, 2021 2:15am
** Shares of Infomedia Ltd  IFM.AX  rise as much as 13.7% to
A$1.54, their biggest intraday pct gain since March 24, 2020
    ** Software provider anticipates final rev of A$95 mln-A$96
mln ($73.57 mln-$74.34 mln) and cash EBITDA of A$19 mln-A$20 mln
for FY21  urn:newsml:reuters.com:*:nASX5Mfb5Z
    ** Says organic growth in IFM's core parts and SaaS platform
has picked up since Dec, particularly in Q4
    ** Growth in organic monthly recurring rev, combined with
the inclusion of U.S.-based SimplePart revenue, provides strong
momentum leading into FY22
    ** RBC brokerage notes that the trading update, albeit a
slight miss, is likely to be seen as "better than feared",
particularly given the FX headwinds
    ** Stock has fallen 29.8% this year, as of last close


($1 = 1.2913 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))
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