NZ's 2 Cheap Cars Group eyes best day ever on upgrading FY24 profit outlook

2 Cheap Cars

08/09/2023 24:19

** Shares of 2 Cheap Cars Group Ltd  2CC.NZ  rise as much as
34% to NZ$0.670, on track for their best day ever, if gains hold
   
    ** Automotive co says profit for FY24 will likely exceed the
top end of previous guidance
    ** Co increases FY24 NPAT forecast to a range of NZ$5.2
mln($3.06 mln) to NZ$5.7 mln, up from previous guidance of
NZ$4.2 mln to NZ$5.0 mln 
    ** Co also sees FY24 unaudited YTD revenue of about NZ$34.1
mln, up 1% from previous outlook
    ** Co's shares hit their highest level since July 27
    ** Shares of co are up 53.9% YTD as of last close 
   


($1 = 1.7018 New Zealand dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))