STK - Core business in line while FX losses dent earnings - Earnings Flash

- STK reported weak Q3 2023 results with revenue edging down 7% QoQ and NPAT slumping 58% QoQ. Q3 2023 GPM remained flat QoQ at 14.8%.

- 9M 2023 revenue and NPAT fulfill 71% and 45% of our respective full-year forecasts.

- Q3 2023 revenue met our expectation as management anticipated weak demand in Q3 2023 before improving in Q4 2023. 

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