Australia's Pure Food Tasmania jumps on upbeat margins, outlook

Pure Foods Tasmania

25/10/2022 04:13

** Shares of Pure Food Tasmania Ltd  PFT.AX  rise as much as
19.2% to A$0.155, their biggest intraday pct jump since July 29
    ** Hobart, Tasmania-based premium food and beverage
business, posts Q1 FY23 sales revenue of A$2.2 mln ($1.39 mln)
and increase in gross margins
    ** Adds that September delivered positive cash flow from
operations
    ** Says from Q2 FY23 will realise immediate benefits from
additional investment in Tasmanian Pate to increase capacity and
improve efficiencies
    ** PFT hits its highest since Oct. 14; more than 250,000
shares change hands vs the 30-day average of around 142,000
shares
    ** PFT down 75% this year, as of last close
($1 = 1.5825 Australian dollars)
 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))