Australia's Adairs falls most in month on disappointing results, forecast

Adairs

22/08/2022 04:08

** Shares of home furnishing retailer Adairs Ltd  ADH.AX 
fall as much as 5.5% to A$2.41, eyeing their worst session since
July 22
    ** ADH says FY22 profit attributable down 29.6% to A$44.9
mln  urn:newsml:reuters.com:*:nASX6Ql3BM
    ** COVID and other related factors hit operation and added
to costs -co
    ** Medium-term outlook less certain, says chairman
    ** Co sees group EBIT of A$75 mln-A$85 mln for FY23 after
recording FY22 underlying group EBIT of A$76.4m 
    ** Shares hit their lowest levels since Aug.8 
    ** Over 940,000 shares change hands vs. 30-day average
volume of about 715,000 shares
    ** Stock down 36.4% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))