Australia's SiteMinder jumps most in 2 weeks on strong Q3

SiteMinder

29/04/2022 02:40

** Shares of technology firm  SDR.AX  jump as much as 4.4%
to A$4.51
    ** Stock set for best day since April 14, if gains hold
    ** SDR, which operates as a hotel software-as-a-service
(SAAS) platform, says Q3 revenue grew 16.1% from a year ago at
constant currency rate to A$29 mln ($20.65 mln)  urn:newsml:reuters.com:*:nASXbLFsTV
    ** SDR adds annualised recurring revenue at Q3-end rose 18%
from year ago to A$117 mln
    ** "Q3 highlighted accelerating growth on the back of
recovery in international leisure travel and was slightly
stronger than expected" - Citi
    ** SDR made its market debut in November last year 
    ** Stock down 36.1% this year, as of last close


($1 = 1.4041 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))