Tiger Brokers

BUZZ-Australia's Paragon Care loses most in 1 month on Ramsay wholesale exit

Reuters
Jan 16
BUZZ-Australia's <a href="https://laohu8.com/S/PGC.AU">Paragon Care</a> loses most in 1 month on Ramsay wholesale exit 

** Shares of Australia's Paragon Care PGC.AX fall 6% to A$0.235, their steepest intraday pct drop since December 19

** Stock down 4.1% so far this week, set for its first weekly fall in four weeks, if losses hold

** The medical equipment provider says that from Feb 1, it will transition out as primary wholesale to Ramsay Healthcare's RHC.AX retail and hospital pharmacy business

** Adds that it will focus on removing associated supply chain costs, expected to neutralise gross margin impact

** Nearly A$4.5 million ($3.02 million) working capital to be released, which will be used to repay debt, co says

** PGC stock up 9.3%, YTD

($1 = 1.4921 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10