Australia's Amaero International slips on downbeat forecast

Amaero

14/08/2024 03:57

** Shares of Amaero International  3DA.AX  fall as much as
10.5% to A$0.340
    ** Stock heads for worst day since Aug. 5, if current trend
holds
    ** Titanium powder producer sees capital expenditures over
FY2024-FY2026 to be A$71.5 million ($47.37 million), higher than
previous estimation
    ** Co says it expects to achieve EBITDA breakeven (the point
where total costs and total revenue are equal) in fiscal year
2026, which was earlier projected to be achieved in calendar
year 2025
    ** Stock is up 58.3% this year, as of last close

($1 = 1.5094 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))