Australia's Spirit Technology sees best day since June on swing to profit

Infotrust

09/02/2023 24:43

** Shares of Spirit Technology Solutions  ST1.AX  jump as
much as 24.6% to A$0.076, see their best day since June 20 - if
gains hold  
    ** The information technology firm reports a swing in profit
before tax in 1H FY23 to A$1.9 million ($1.32 million) from a
loss of A$256,000 reported the previous year  urn:newsml:reuters.com:*:nFWN34O3HI
    ** Reports A$67.3 million revenue for the half-year, up from
A$65.9 mln reported last year, boosted by its Collaboration &
Communications business, among others 
    ** Says it will return to normal profitability levels in
FY24, sees group underlying earnings before interest, tax,
depreciation and amortisation of A$8.5 mln -A$9.5 mln in FY23 
    ** Co targets revenue range of A$125 mln-A$135 mln for FY23 
    ** Shares hit highest since Sept. 27 
    ** Stock has fallen ~6.2% this year, as of last close
($1 = 1.4438 Australian dollars)
 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))