Australia's SomnoMed hits 11-month low on weak HY results

SomnoMed

22/02/2022 02:10

** Shares of SomnoMed  SOM.AX  fall as much as 2.1% to
A$1.850, their lowest level since March 17
    ** Co, which treats sleep-related disorders through oral
devices, posts https://www.asx.com.au/asxpdf/20220222/pdf/45671pj4whhfqf.pdf
 HY total comprehensive loss attributable of A$3.8 mln ($2.73
mln) vs loss of A$432,607 last year
    ** Posts revenue from sale of goods and services, net of
discounts, of A$33.9 mln vs A$30.8 mln last year
    ** Co expects revenue growth of at least 15% in FY22
    ** Also remains optimistic about trading activity levels and
outlook for H2 of FY22
    ** Stock posts biggest intraday percentage fall since Feb 14
    ** As of last close, SOM down ~19.6% so far this year
    



($1 = 1.3904 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))