Australia's Superloop hits 5-year high on positive trading update

Superloop

02/07/2024 01:27

** Shares of Superloop  SLC.AX  surge as much as 6.1% to
A$1.650, their highest since June 21, 2019 
    ** The internet broadband provider says it expects its
underlying earnings before interest, tax, depreciation and
amortisation to be at or above the top end of A$51 million 
($33.95 million)-A$53 million guidance range 
    ** Says FY24 cash capex remains on track for the previously
guided A$25 million-A$27 million range 
    ** Shares set to see best day since March 19 - if current
trend holds 
    ** Stock has risen more than double-fold this year as of
last close


($1 = 1.5024 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))