Aussie software firm Altium soars to top ASX on strong FY24 outlook

Altium

22/08/2023 02:28

** Circuit board designing software maker Altium Ltd
 ALU.AX  soars as much as 21.4% to A$44.770, their highest since
Jan 4, 2022
    ** ALU stock is top gainer in the ASX 200 benchmark index
 .AXJO 
    ** ALU marks its biggest intraday pct gain since Aug 23,
2022     
    ** More than 416,000 shares change hands, vs the 30-day
average of 234,355 shares
    ** Co expects FY24 revenue between $315 mln and $325 mln,
compared with FY23 revenue of $263.3 mln
    ** Forecasts FY24 underlying EBITDA margin of 35% to 37%, vs
36.2% in FY23
    ** Co announced FY23 final dividend of 29 Australian cents
per share; total dividend of 54 AU cents per share, up 14.9%
from year-ago levels 
    ** ALU stock up 5.1% this year, as of last close, vs a 1.1%
rise in the ASX 200 benchmark

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))