Australia's Zicom Group hits 4-week high on upbeat FY24 forecast

Zicom

31/05/2024 04:29

** Shares of Zicom Group  ZGL.AX  rise as much as 17% to
A$0.055, their highest level since May 3
    ** Stock on track for their best day since May 3, if gains
hold
    ** Engineering service provider sees FY24 consolidated net
profit after tax between S$6.0 mln ($4.44 mln) and S$6.5 mln
    ** Co posted a consolidated net loss of S$8.54 mln in FY23  
    ** Board is confident that the current momentum of its
business is expected to be maintained - co 
    ** About 115,000 shares change hand compared to 30-day
average trading volume of 93,668 shares 
    ** Stock up 17.5% YTD as of last close 
   


($1 = 1.3507 Singapore dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))