Australia's Tuas gains as FY loss narrows on growth in mobile subscribers

Tuas

24/09/2024 04:05

** Shares of mobile network operator Tuas  TUA.AX  up 10.2%
to A$4.65, on track for their best day since Dec. 3, 2021
    ** Stock rises to highest level since July 18
    ** Co posts FY loss of S$4.4 mln ($3.41 mln), compared to
loss of S$15.3 mln a year ago
    ** Posts revenue of S$117.1 mln, 6% ahead of Citi's estimate
    ** "TUA has delivered another strong set of results
underpinned by strong growth in Mobile subscribers" - Citi
    ** Co reports active mobile services of 1.05 mln at July 31,
2024, up from 819,000 a year ago and 9% ahead of Citi's
expectation
    ** About 1.4 mln shares change hands by 0251 GMT, 1.7x the
30-day average
    ** Stock has risen 31.9% this year, as of last close

($1 = 1.2912 Singapore dollars)

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