BUZZ-Australia's Cedar Woods hits record high on outlook uplift, strong quarterly earnings
Reuters
Oct 29
BUZZ-Australia's Cedar Woods hits record high on outlook uplift, strong quarterly earnings
** Shares of Australia's Cedar Woods Properties CWP.AX rise as much as 10.7% to a record high of A$8.90
** The property developer upgrades FY26 NPAT outlook to growth of ~15%, from its earlier forecast of 10%
** Records presales of more than A$763 million ($495.80 million) at end of first quarter, up 36% on pcp
** Says positive momentum in sales driven by both good volumes and price growth
** Stock's biggest intraday pct jump since late March 2020
** YTD, stock up 59.8%
($1 = 1.5389 Australian dollars)
(Reporting by Shruti Agarwal in Bengaluru)
((Shruti.Agarwal@thomsonreuters.com))
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