NZ's Serko slides to lowest in over 1 yr on subdued trading update

Serko

03/02/2022 02:52

** Shares of business travel software maker Serko Ltd
 SKO.NZ  slide as much as 7.6% to NZ$4.900, their lowest since
November 2020
    ** Co, in its trading update, says Omicron-related
restrictions reduced business travel volumes in key markets and
expected revenues for FY2022  urn:newsml:reuters.com:*:nNZW7rBCkR
    ** Says its volumes dipped below anticipated volumes in
Australia and New Zealand at the start of January, with demand
being significantly affected in New Zealand
    ** Revises guidance range for full-year revenue to between
NZ$18 mln and NZ$20.5 mln ($11.9 mln - $13.6 mln), from NZ$21
mln and NZ$25 mln
    ** Stock posts its biggest intraday pct decline since Nov.
25
    ** Trading volumes of 1.2 mln shares are nearly 23 times
that of the 30-day avg of 52,852
    ** SKO is one of the worst performers on the S&P/NZX 50
 .NZ50 , having lost 24.3% in 2022 as of last close

($1 = 1.5090 New Zealand dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))