Australia's Locality Planning Energy rises after flagging margin improvement

Locality Planning Energy Holdings

24/01/2023 24:45

** Shares of electricity provider Locality Planning Energy
 LPE.AX  rise as much as 13.2% to A$0.06, posting their biggest
intraday pct gain since Dec. 8, 2022
    ** Co says quarterly operating costs fell 16%, alleviating
pressure on margins, after it undertook a restructuring in 2022
    ** Adds it remains on track to meet full-year revenue
guidance of A$40 mln ($28.10 mln) 
    ** Stock hits highest level since Dec. 9, 2022
    ** LPE down 1.9% YTD, as of last close; stock lost 61.4% in
2022
($1 = 1.4235 Australian dollars)
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))