Australia's Alloggio Group faces worst day ever on profit forecast cut

Alloggio

17/05/2023 02:19

** Shares of Alloggio Group Ltd  ALO.AX  plunge as much as
46.3% to A$0.145 - on track for record pct drop, if losses hold
    ** Short-term rental accommodation operator cuts FY23
normalised EBITDA forecast to A$4.8 mln ($3.26 mln)-A$5.1 mln
from A$6.4 mln-A$8.2 mln
    ** Says it revised EBITDA forecast due to a decline in April
gross revenue from its holiday property management division,
among others
    ** Stock touches lowest level since Sept 2
    ** More than 654,400 shares change hands, vs the 30-day
average volume of 560,239 shares
    ** Stock up 22.7% this year, as of last close
($1 = 1.4743 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))