Australia's Spirit Technology hits near 2-mth low on subdued Q1 revenue

Infotrust

29/11/2021 04:28

** Shares of Spirit Technology Solutions Ltd  ST1.AX  drop
as much as 4.4% to A$0.220, their lowest since Oct. 7
    ** The information technology firm says sales and
installations were impeded in its first quarter of FY22 due to
closure of some of its businesses  urn:newsml:reuters.com:*:nASX204Bl5
    ** Experiences a lower-than-anticipated revenue in the first
quarter but flags some pent-up demand for services
    ** Says it is not immune from costs pressures and supply
side challenges such as labour shortages and chip manufacturing
delays which may impact hardware deployments in large IT&T
projects
    ** Stock has fallen 42.5% this year as of last close

 (Reporting by Yamini C S in Bengaluru)
 ((Yamini.CS@thomsonreuters.com;))