Australia's Adrad jumps after maintaining FY23 outlook

Adrad Holdings

03/02/2023 02:04

** Shares of Adrad Holdings Ltd  AHL.AX  rise as much as
5.5% to A$1.05 - set to mark best day since Jan 24 if gains hold
    ** Industrial heat transfer solution provider reaffirms FY23
outlook provided at AGM in November 2022
    ** Co had forecast FY23 revenue of A$135 mln-A$140 mln
($95.39 mln-$98.92 mln) 
    ** Says preliminary unaudited results for 1H FY23 consistent
with FY23 outlook
    ** Sees continued growth in both revenue and margin in FY24
and beyond 
    ** Stock down 9.6% this year, as of last close
($1 = 1.4152 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))