Australia's Spirit Technology rises on positive HY update, InfoTrust acquisition

Infotrust

07/02/2024 02:37

** Shares of Australia's Spirit Technology Solutions
 ST1.AX  rise as much as 18.6% to A$0.07, their highest since
Jan 12
    ** Shares on track for their best day since Dec 20, if gains
hold
    ** The information technology firm says HY statutory loss
for the group came in at A$5.20 mln ($3.40 million) versus loss
of A$7.79 mln
    ** Co acquires Sydney-based cyber security business
InfoTrust for A$34.6 mln 
    ** Adds synergies of A$1.4 mln+ expected to be achieved in
FY25 in the integration of InfoTrust and co's cyber security
division 
    ** About 1.5 mln shares change hands, compared with the
30-day average volume of 1.6 mln shares
    ** Stock has fallen 26.3% this year, as of last close

    ($1 = 1.5295 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))