Tiger Brokers

BUZZ-Australia's BSA hits record low after co updates on work orders

Reuters
Mar 20
BUZZ-Australia's BSA hits record low after co updates on work orders

** Shares of BSA BSA.AX slump 24.7% to a lifetime low of A$0.064

** The telecom services provider says volume of work orders to progressively decrease from around May, new work orders to stop being issued from mid-July

** Co said on February 28 that it was unsuccessful in securing Australia's National Broadband Network's (nbn) new field level contract; current contract to expire on Sept 30, 2025

** Co expects to incur restructure costs of A$5.6 million in current FY to reduce operating costs due to revenue decline

** More than 1.6 mln shares change hands vs 30-day avg volume of 1.4 mln shares

** BSA down 93.5% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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