Australia's Supply Network hits over 2-week high on strong outlook

Supply Network

09/12/2021 02:37

** Shares of Supply Network  SNL.AX  rise as much as 3.5% to
A$10.750, their highest since Nov. 23
    ** Automobile parts provider expects https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02464497-2A1344864?access_token=83ff96335c2d45a094df02a206a39ff4
 FY22 profit after tax of about A$19 mln ($13.61 mln), compared
to FY21 PAT of A$13.8 mln 
    ** Also expects FY22 revenue of A$190 mln to A$195 mln,
compared to FY21 revenue of A$162.6 mln
    ** Stock marks its biggest intraday percentage gain since
Dec. 1
    ** About 14,500 shares change hands, around 4 times their
30-day average 
    ** Stock down ~86.5% this year, as of last close 

($1 = 1.3965 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))