Australia's Jayride jumps on Q4 cash-flow positive outlook

Jayride

09/06/2022 05:53

** Shares of Jayride Group  JAY.AX  jump as much as 5.9% to
A$0.18, their biggest intraday pct gain since May 31
    ** The e-commerce marketplace operator says co now cash-flow
positive after stand-still operating costs for April and May
 urn:newsml:reuters.com:*:nASX1HkvWP
    ** Positive cash flows are as a result of strong revenue
growth and stable operating costs - JAY
    ** Says it will direct surplus cash flows to fund further
growth
    ** Expects to remain cash-flow positive after stand-still
operating costs for the full quarter of Q4
    ** Stock touches its highest levels since June 3
    ** About 367,000 shares change hands, compared with the
30-day average volume of 87,000 shares
    ** JAY up 3% this year as of last close

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