Australia's TerraCom drops to over 2-year low on weak HY results

Terracom

29/02/2024 02:38

** Shares of TerraCom  TER.AX  fall as much as 14.8% to
A$0.230, their lowest level since Feb 9, 2022
    ** Shares on track for their worst day since Jan 31, if
losses hold 
    ** The coal miner posts HY profit after income tax
attributable A$31.7 mln ($20.62 mln), down 82% from previous
year
    ** TerraCom says HY revenue from ordinary activities of
A$141.3 mln, down 67% from previous year
    ** About 3.8 million shares change hands, 1.3 times the
30-day average volume of shares
    ** Stock has fallen 35.7% this year, as of last close

   ($1 = 1.5373 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))