Australia's Adore Beauty at over 1-year high on upbeat outlook

Adore Beauty

26/02/2024 02:40

** Shares of Adore Beauty Group  ABY.AX  advance as much as
15% to A$1.460, their highest since early Dec. 2022 
    ** Co posts 1H24 revenue and adjusted earnings before
interest, taxes, depreciation, and amortization (EBITDA) in line
with brokerage Citi's expectations 
    ** Shares mark their biggest intraday pct gain since Nov. 27
    ** Customer metrics improving on multiple fronts pointing to
better sustainability of revenue and brand value - Citi
    ** Citi says co's bottom-to-mid end of the guidance range
provided for 2H24 revenue and EBITDA are likely achievable;
cites better supplier terms and freight going into 2H24
    ** More than 144,600 shares change hands versus the 30-day
average volume of ~32,499 shares  
    ** Stock down 9.3% this year, as of last close, vs benchmark
S&P/ASX 200 index's  .AXJO  0.1% decrease




 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))