Australia's Zicom falls most in nearly 2 years on HY loss forecast

Zicom

22/02/2022 04:27

** Shares of marine deck machinery manufacturer Zicom Group
 ZGL.AX  slip as much as 24.5% to A$0.071, their biggest
intraday pct loss since Feb 28, 2020
    ** ZGL expects https://www.asx.com.au/asxpdf/20220222/pdf/4566l2sq6z3zd6.pdf
 HY consolidated net loss of between S$3.2 mln ($2.38 mln) and
S$3.5 mln vs consolidated net profit of S$2.7 mln last year
    ** Says main cause for setbacks is continuing COVID-19
pandemic
    ** Adds that several projects and business orders that ZGL
expected to materialise during HY have been delayed
    ** Stock hits lowest level since July 5
    ** More than 260,000 shares change hands vs 30-day average
of about 33,000 shares 
    ** Stock down ~1.1% so far this year, as of last close 
    



($1 = 1.3473 Singapore dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))