Australia's SomnoMed surges to near 1-1/2-year high on forecast upgrade
24/01/2025 01:46
** Shares of SomnoMed SOM.AX rise 6.7% to A$0.64
** Stock rose as much as 10% to A$0.66, its highest level
since Aug 21, 2023
** Medical device manufacturer upgrades EBITDA forecast at
A$7 mln-A$9 mln ($4.40 mln-$5.65 mln) for fiscal 2025, from
previous forecast of A$7 mln
** Co, specialising in sleep disorders, logs group revenue
A$28.5 mln for Q2 vs A$23.7 mln from the same period last year
** More than 257,000 shares change hands vs 30-day avg
volume of around 166,000 shares
** Stock down 38% YTD, including current session's moves
($1 = 1.5924 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com))
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