Business
SciDev (ASX:SDV) share price jumps 10% on inaugural profit result
SciDev Ltd (ASX: SDV) shares are soaring today after the company released its half-yearly report. In morning trade, the SciDev share price jumped 10% to an intraday high of 77 cents before retracing to its current price of 73.5 cents, up 5%.
Why is the SciDev share price rising?
The ScidDev share price is responding positively today after the company announced its first-ever profit.
ScidDev’s revenue for the first half of FY21 came in at $18.3 million, reflecting strong business development across all four of its sectors. As drilling activities continued to rebound, the oil and gas sector’s continued growth delivered an impressive $6.9 million towards revenue. All up, this drove the impressive 300% in revenue growth compared…
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