BUZZ-Australia's Emeco jumps on upbeat earnings forecast

Reuters
2024-11-20
BUZZ-Australia's Emeco jumps on upbeat earnings forecast

** Shares of Emeco Holdings EHL.AX rise as much as 7.2% to A$0.82, logging their best session since mid-January 2022

** Business support service provider expects annual operating EBITDA of at least A$300 mln ($195.99 mln) for fiscal 2025

** EHL posted FY24 EBITDA of A$280.5 mln

** Expects ongoing improvement through the course of the financial year, refelecting improving utilisation rates

** Stock hits highest since Oct. 16

** More than 391,000 shares change hands vs the 30-day avg volume of about 205,000 shares

** EHL up 18.7% YTD, including current session's moves

($1 = 1.5307 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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