Australia's Somnomed eyes best day in nearly 17 yrs on FY forecast upgrade

SomnoMed

27/11/2024 24:23

** Shares of Somnomed  SOM.AX  climb as much as 48.2% to
A$0.400, marking their biggest intraday gain since January 2008
    ** Co, which provides treatment solutions for sleep-related
breathing disorders, upgrades FY25 revenue forecast by 5% to
~A$105 mln ($67.95 mln) 
    ** Also raises FY25 EBITDA forecast to more than A$7 mln vs
previous forecast of more than A$5 mln
    ** Says Q1 FY25 total revenue rose 18.2%
    ** Stock hits its highest level since Oct. 7
    ** As of last close, stock was down 30.2% YTD


($1 = 1.5454 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))