Australia's Macquarie Technology eyes biggest rise in over 2-1/2 yrs on robust HY profit

Macquarie Technology

29/02/2024 03:34

** Shares of Macquarie Technology Group  MAQ.AX  rise as
much as 11.7% to A$79.490, set for best day since July 14, 2021,
if gains hold     
    ** Telecom firm says its HY net profit after tax rose 74% to
A$14.8 million ($9.64 million)
    ** Posts HY revenue of A$181.3 million, up over 5%
    ** Stock hits highest level since Sept. 9, 2021
    ** 41,475 shares change hands, compared with the 30-day
average volume of 12,195    
    ** Stock set for first weekly gain after three straight
weeks of declines, if trend sustains    
    ** MAQ up 3.9% YTD, as of last close

($1 = 1.5354 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))