Australia's AMA Group surges on upbeat forecast, divestment plans

Ama

19/06/2024 04:13

** Shares of AMA Group  AMA.AX  rise as much as 18% to
A$0.046, biggest intraday percentage gain since Jan. 2
    ** Auto collision repair co raises FY24 earnings forecast
range to A$44 mln-A$49 mln ($29.3 mln-$32.7 mln) from A$42-A$49
mln
    ** Announces plans to divest its 'ACM Parts' unit that sells
aftermarket parts
    ** Also appoints new chair, cuts pay to A$100,000 from
A$225,000 annually 
    ** About 4.8 mln shares change hands, compared with the
30-day average volume of around 2.5 mln
    ** Stock trims YTD losses to 38.6%



($1 = 1.4999 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))