Australia's Thorney Technologies hits 2-week high on strong annual results

Thorney Technologies

01/09/2021 05:37

** Investment firm Thorney Technologies  TEK.AX  rises as
much as 2.3% to A$0.445, their highest since Aug. 18
    ** Says https://wcsecure.weblink.com.au/pdf/TEK/02416167.pdf
 profit after for the year A$52.9 mln ($38.71 mln), up from
A$200,000 last year; revenue surges to A$79.9 mln compared with
A$2.1 mln a year ago
    ** Surge in earnings as investment portfolio, specifically
tech-based firms, saw massive growth in FY21
    ** Adds that it is "optimistic that technology-focussed
investment opportunities will continue to emerge over the coming
period"
    ** About 297,000 shares change hands, vs the 30-day average
of about 188,000 shares
    ** TEK up 10.1% this year, as of last close


($1 = 1.3667 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))