Shaver Shop Group Limited (ASX:SSG) provided a business update and reported that strong sales trends continued through to mid-June with total sales now up by 22.3% to date in the second half of FY20.
Moreover, the Group also provided FY20 Guidance update, where total revenue is anticipated to be A$190-A$195 million for FY20. EBITDA is projected to be in the range of A$17.25 to A$18.25 million, a rise of 28-35% on the FY19.
Post announcement on 18 June 2020, SSG quoted at A$0.690 up by 11.29% at AEST 11:54 AM.
Penny stocks have been known to attract investors who are looking for explosive gains and it is possible to get lucky with these typically speculative investments. Just as the name suggests, penny stocks trade at low prices and are common shares of small public companies.
Get an exclusive insight into the features of penny stocks along with their pros and cons. Read about what you should be wary about when figuring out ways to invest in them, so that the possibility for big rewards does not tend to outweigh the risks.