BUZZ-Australia's Perenti slides on lower half-yearly profit

Reuters
02-24
BUZZ-Australia's Perenti slides on lower half-yearly profit

** Shares of Perenti PRN.AX down 16.5% at A$1.1525

** Stock falls as much as 19.9% earlier in the day to A$1.105, posting its biggest intraday pct drop since mid-May 2021

** Mining services provider reports statutory NPAT of A$63.5 mln ($40.52 mln) for 1H25 vs A$69.8 mln for the same period last year

** Says lower profit due to one-off costs, including product development costs

** More than 6 mln shares change hands, 2.7 times the 30-day avg

** Stock down ~17.6% YTD, including current session's moves

($1 = 1.5672 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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