Australia's Urbanise.com up on headcount savings, sees improved cash flow

Urbanise com

05/10/2023 01:43

** Shares of Australia's Urbanise.com  UBN.AX  rise as much
as 2.4% to A$0.430; set to mark best day since Sept. 15, if
current gains hold  
    ** Stock hits highest since Sept. 28  
    ** The cloud-based software-as-a-service provider says co
has implemented headcount savings that will deliver cash flow
improvements of A$1.1 mln ($695,970.00) on an annual basis 
    ** Says co expects to deliver a A$2.4 mln improvement in
cash flows over the next 12 months   
    ** Adds co will continue to work towards achieving cash flow
sustainability in FY2025  
    ** Stock has fallen 40.9% this year, as of last close


($1 = 1.5805 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))