Australia's Zoom2u at all-time low on lacklustre performance, job cuts

Locate Technologies

31/01/2023 03:25

** Shares of Zoom2u Technologies Ltd  Z2U.AX  fall as much
as 2.4% to an all-time low of A$0.082
    ** The delivery services provider's business division,
Zoom2u, records Q2 FY23 gross merchandise value of A$3.6 mln
($2.54 mln), down 9% on prior corresponding period (pcp)
    ** Says co's headcount has been reduced to 98, as of June
30, from 112, as at Dec 31, 2022
    ** Says by the end of January, co's staff numbers have been
reduced to 89 
    ** Co records revenue of A$1.1 mln for Q2 FY23, up 7% on pcp
    ** Zoom2u shares down 16% YTD, as of last close 
     ($1 = 1.4198 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))