Tiger Brokers

BUZZ-Australia's PEXA hits 9-month low on flagging higher impairments

Reuters
Feb 06, 2025
BUZZ-Australia's PEXA hits 9-month low on flagging higher impairments

** Shares of PEXA Group PXA.AX fall 5.8% to A$12.09, their lowest level since May 1, 2024

** Digital property settlements platform raises its fiscal 2025 first half impairment loss forecast range

** Co now sees first half impairment loss of A$35 million ($22.00 million) to A$40 million, up from A$15 million to A$20 million forecast earlier

** Co also says Les Vance, CEO of its Australia unit, has resigned

** PXA top loser on the S&P/ASX 200 index .AXJO

** Stock fell as much as 9.8% earlier in the day, marking its worst intraday drop since Dec. 20, 2023

** Stock down 7.4% this year, including the day's move

($1 = 1.5911 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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