Australia's Readytech Holdings hits near 4-month high on positive forecast, results

Readytech Holdings

17/08/2022 06:34

** Shares of software as a service (SaaS) company ReadyTech
Holdings  RDY.AX  rise as much as 7.8% to A$3.47, their highest
since April 21
    ** RDY sees organic revenue growth in mid teens for FY23,
increases FY26 organic revenue target to over A$160 mln 
($112.26 mln)  urn:newsml:reuters.com:*:nASX2L9k4M
    ** FY23 EBITDA margin expected to be in a range of 35% to
36% excluding the impact of LTIP
    ** Co says "strongly positioned" to deliver growth in FY23
and beyond
    ** For FY22, co recorded profit attributable of A$8.8 mln,
up 308%
    ** Revenue from ordinary activities rose 56.5% to A$78.3 mln
    ** Stock to mark its best session since June 8 if gains hold
    ** More than 559,000 shares change hands, compared with the
30-day average of about 53,000 shares
    ** Stock down 17.4% this year, as of last close

($1 = 1.4253 Australian dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))