Australia's Veris rises on profit forecast, higher revenue view

Veris

19/07/2022 04:28

** Shares of aerial data services provider Veris Ltd
 VRS.AX  climb as much as 10.5% to A$0.074, their best intraday
rise since April 8
    ** H2 profit before tax for Veris Australia, its sole
operating unit, expected at A$1.6 million, which would put the
company on track for a full-year net profit before tax, after a
A$2.3 million loss in FY21  urn:newsml:reuters.com:*:nASX6zKb35  
    ** Expects Veris Australia to have recorded FY22 revenue of
A$92.4 million ($63.09 million), a 19.4% rise from FY21  
    ** Veris stock hits highest level since April 11
    ** Trading volumes cross four times their 30-day average,
with about 1.1 million shares traded so far today
    ** VRS up 24.1% YTD, as of last close 

    ($1 = 1.4646 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))