Australia's GUD Holdings soars to top benchmark on improving outlook

Amotiv

14/05/2024 01:49

** Shares of auto accessories maker GUD Holdings  GUD.AX 
 RIC  rise as much as 9.4% to A$10.690, marking their biggest
intraday jump since mid-August last year
    ** GUD touches its highest level since April 24; top gainer
in the ASX 200 benchmark index  .AXJO 
    ** GUD on Monday said its FY24 EBITA was in line with
expectations of A$193.5 mln ($127.75 mln), slightly above
A$191.1 mln logged in FY23
    ** Says automotive (excluding APG) continues to trade well
across all key business units
    ** Unit AutoPacific Group forecasting further revenue and
EBITA growth in FY25 as headwinds partially moderate
    ** GUD down 18.6% this year as of last close


($1 = 1.5147 Australian dollars)

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