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An update from Field Solutions Holdings Ltd ( (AU:FSG) ) is now available.
Field Solutions Holdings Limited has announced the sale of its mining customer base to PIT Mining IT Pty Ltd for $4.975 million, with $1.975 million contingent on performance conditions. By divesting its mining unit, FSG aims to reduce revenue concentration and high-capex project risk, forecasting a decrease in operating expenses by $4.8 million and a reduction in gross revenue by $12 million. This strategic move aligns with FSG’s broader strategy to focus on its core business areas, potentially enhancing its operational efficiency and market standing in rural telecommunications.
More about Field Solutions Holdings Ltd
Field Solutions Holdings Limited (FSG) is a leading telecommunications carrier in Australia, focusing on providing broadband networks specifically designed for rural, regional, and remote areas. The company offers its services through its own telecommunications network under brands such as JustISP, TasmaNet, and Ant Communications and is also a NBNco Retail Service Provider.
Average Trading Volume: 195,831
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$17.02M
Find detailed analytics on FSG stock on TipRanks’ Stock Analysis page.
