Australia's Stealth Global jumps most in over 6 weeks on strong Q4 sales

Stealth group

06/07/2022 03:01

** Shares of Stealth Global Holdings  SGI.AX  rise as much
as 13.4% to A$0.11, their best intraday session since May 23
    ** Industrial tools distributor reports a 36% rise in Q4
sales to A$28 mln ($19.06 mln)  urn:newsml:reuters.com:*:nASX9h3JSV 
    ** Says that while inflation poses a risk to consumer
demand, ~95% of its revenue comes from non-discretionary items,
so it does not expect any adverse impact
    ** Stock hits highest level since June 14
    ** SGI down 33.1% this year as of last close 


($1 = 1.4691 Australian dollars)
    

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))