NZ's Vista Group hits 10-mth high on job cuts, FCF expectations

Vista International

05/07/2023 23:40

** Shares of New Zealand's Vista Group International
 VGL.NZ  rise 3.6% to NZ$1.8, hitting their highest since
September 2022
    ** The film tech provider says it has commenced an
organisational transformation which is expected to result in
reduction in global workforce of between 6% and 8%
    ** Adds business transformation will make co free cashflow
positive during Q424, a year earlier than projected
    ** Co remains on target to achieve its aspirations of annual
recurring revenue between NZ$175 million ($108.12 million) and
NZ$205m and an EBITDA rise of 15%, in each case by the end of
2025
    ** Stock has risen 11.2% this year, as of last close 


($1 = 1.6186 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))