Australia's Structural Monitoring Systems surges on upbeat forecast

Structural Monitoring Systems

06/06/2024 01:55

** Shares of Structural Monitoring Systems  SMN.AX  rise as
much as 23.5% to A$0.420, their highest since mid-April
    ** Electronic products maker forecasts FY24 group EBITDA of
A$3.38 mln ($2.3 mln) from a loss of A$0.27 mln in the previous
year
    ** Says it expects to record a quarterly profit for the
first time ever in the June quarter
    ** Co sees FY24 revenue of A$28.38 mln, a 27% growth from
last year
    ** More than 134,000 shares change hand compared to 30-day
average trading volume of 62,768 shares
    ** Stock down 31.3% this year, as of last close

($1 = 1.5020 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))