Australia's Vmoto jumps most in nearly three weeks on upbeat HY results

Vmoto

31/08/2022 05:14

** Shares of Vmoto  VMT.AX  jump as much as 7.5% to A$0.430,
their best session since Aug 12
    ** The scooter manufacturer says its 1H22 revenue of A$57.6
million ($39.59 million), up 46% from the prior period, was due
to higher sales of its electric vehicles  urn:newsml:reuters.com:*:nFWN3061MU
    ** It records HY net profit after tax of A$7.2 million, up
80% on 1H21
    ** Adds it will be able to continue delivering strong sales
and revenue growth for the remainder of FY22 and beyond
    ** Shares hit highest since Aug 22; rises for second
straight day
    ** Stock has fallen ~7% this year as of last close

($1 = 1.4550 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))