BUZZ-Australia's Apiam Animal Health drops on downbeat HY results

Reuters
26 Feb
BUZZ-Australia's Apiam Animal Health drops on downbeat HY results

** Shares of Apiam Animal Health AHX.AX fall 4.8% to A$0.395, their lowest level since January 22

** Veterinary service provider reports a HY net loss attributable of A$1.5 million ($951,000.00) vs a profit of A$3.3 million last year

** AHX also announces the divestment of Agnes Banks, an underperforming equine business in New South Wales

** Company to incur a pretax impairment loss of A$4.5 million in 1H25 on account of the divestment

** Divestment to be completed in the second half of FY2025

** 113,872 shares change hands, 4 times the 30-day average of 28,677

** Stock down 2.5% YTD, including current session's moves

($1 = 1.5773 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com))

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