Australia's SOCO Corp gains on higher FY revenue, NPAT results

Soco

11/07/2023 01:56

** Shares of Australia's SOCO Corporation  SOC.AX  rise 1.9%
to A$0.27, hitting their highest since May 25
    ** The IT consultancy firm posts undaudited FY23 revenue of
A$19.8 mln ($13.24 mln), a 47.5% jump compared to same period
last year
    ** Co reports unaudited FY23 net profit after tax (NPAT) of
A$1.5 mln ($1.00 mln), beating co's NPAT forecasts by 3.4%
    ** Company intends to build on successful FY23 and continue
to grow the SOCO team and operations across the country - Co
    ** Stock has risen 1.9%, as of last close, since trading
commenced on ASX in December 2022

($1 = 1.4950 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))