Business
Infomedia (ASX:IFM) share price dips 9% on flat earnings
Infomedia Limited (ASX: IFM) shares are plunging to a 4-month low today following the company’s report of flat earnings growth in the first half of FY21 (1H21). At the time of writing, the Infomedia share price is trading 9.44% lower at $1.63.
Why the Infomedia share price is weaker today
The Infomedia share price is taking a dive today after the company delivered steady revenue of $47.7 million for the 6 months to 31 December 2020. Meanwhile, net profit after tax (NPAT) increased 3% to $9.3 million. Infomedia’s cash balance at 31 December 2020 sat at $97.3 million.
The business blamed timing delays for the lack of sales momentum in the first half. It cited that sales closed during calendar 2020 are expected to translate…
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