Australia's GUD Holdings top loser on benchmark after weaker H2 guidance

Amotiv

14/02/2024 24:17

** Shares of GUD Holdings  GUD.AX  tank as much as 15.5% to
A$10.24, set to see their worst day since June 17, 2022 - if
losses hold 
    ** Stock emerges as top loser on the benchmark 
    ** The automotive parts maker says flags short-term deferral
of replenishment orders which could impact its second-half
operating profit 
    ** Co still expects strong revenue and operating profit
growth in FY24 
    ** Co reported underlying operating profit of A$98 million 
($63.22 million) for HY, a 11.6% rise from previous
corresponding period; declares interim dividend of 18.5 AU cents
per share  
    ** "Expect a continued focus on AutoPacific Group outlook
and reaching the original business case given outlook for lower
2H24 h/h," UBS analysts say 
    ** Stock has marginally risen this year, as of last close


($1 = 1.5501 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru; Editing by Stephen
Coates)
 ((Archishma.Iyer@thomsonreuters.com;))