Business
Why the Smart Parking (ASX:SPZ) share price is soaring 10% higher
The Smart Parking Ltd (ASX: SPZ) share price is going gangbusters today after the parking technology provider delivered its first-half results for FY21. At the time of writing, the Smart Parking share price is trading 13.79% higher to 17 cents per share.
A recovery in the works
Smart Parking sources its revenue from two main streams: parking management, and technology. Shareholders are likely rejoicing on the 51% uplift in parking management revenues for the company. The recovery placed the management segment’s revenue at $8.674 million, up from $5.741 million in H2 FY20.
On the other hand, technology revenue experienced a drastic 30% fall to $2.316 million. Smart Parking put this down to a delay in revenue and capital projects…
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