Australia's RPMGlobal Holdings faces worst day in four years on FY24 forecast cut

RPMGlobal Holdings

02/07/2024 02:15

** Shares of RPMGlobal Holdings  RUL.AX  slump as much as
21.7% to A$2.17, set for worst day in about 4 years - if current
losses hold 
    ** Mining software solutions provider slashes FY24 profit
before tax forecast to between A$14 mln and A$15 mln ($9.30
mln-$9.97 mln), from A$16.5 mln to A$18.0 mln
    ** Says forecast cut is due to lower perpetual licence
sales, among others 
    ** Shares hit lowest level since April 17 
    ** About 2.6 mln shares change hands, five times the 30-day
average volume of 526,567 shares 
    ** Stock up ~58.3% this year, as of last close

($1 = 1.5047 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))