BUZZ-Australia's GUD Holdings top loser on benchmark after weaker H2 guidance

Reuters
2024-02-14

** Shares of GUD Holdings tank as much as 15.5% to A$10.24, set to see their worst day since June 17, 2022 - if losses hold

** Stock emerges as top loser on the benchmark

** The automotive parts maker says flags short-term deferral of replenishment orders which could impact its second-half operating profit

** Co still expects strong revenue and operating profit growth in FY24

** Co reported underlying operating profit of A$98 million ($63.22 million) for HY, a 11.6% rise from previous corresponding period; declares interim dividend of 18.5 AU cents per share

** "Expect a continued focus on AutoPacific Group outlook and reaching the original business case given outlook for lower 2H24 h/h," UBS analysts say

** Stock has marginally risen this year, as of last close

($1 = 1.5501 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru; Editing by Stephen Coates)

((Archishma.Iyer@thomsonreuters.com;))

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