Locality Planning Energy Climbs 5% on Positive Cash Flow, Increased Profitability Expectations

MT Newswires Live07-23

Locality Planning Energy (ASX:LPE) shares rose 5% in recent trade amid positive cash flow and expected increase in profitability in fiscal 2025.

The embedded electricity provider reported cash and cash equivalents at the end of June of AU$3.5 million, according to a Tuesday filing with the Australian bourse. Cash inflows for fiscal Q4 reached AU$10.4 million, comprising AU$9.5 million in customer receipts and AU$870,000 from closing the electricity hedge book.

The company reaffirmed its fiscal 2024 net profit guidance of between AU$1.95 million and AU$2 million. It also expected a significant increase in profitability for fiscal 2025.

Locality Planning Energy is also slated to start its share buyback in fiscal Q1 2025.

Also, the company said River Capital Embedded Network Trust will not be extending its unconditional takeover offer of AU$0.105 per share beyond the July 26 expiration.

Locality Planning Energy has been urging shareholders to reject said offer, saying it undervalued the company. It also maintained its views that the company's medium- to long-term prospects "significantly exceed" the revised offer price.

Price (AUD): $0.12, Change: $+0.01, Percent Change: +4.55%

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