New Zealand's AoFrio rises on higher FY24 revenue outlook

Aofrio

11/12/2024 02:50

** Shares of AoFrio Ltd  AOF.NZ  rise as much as 9.9% to
NZ$0.1, set for their best trading session since late-Oct, if
gains hold 
    ** The refrigeration technology co expects FY24 revenue to
be NZ$79 mln ($45.80 mln), at the higher end of previous
forecast of NZ$75 mln to NZ$80 mln - representing a growth rate
of about 18.7%
    ** Co sees FY25 revenue between NZ$85 mln to NZ$95 mln, a
14% increase over 2024 at the midpoint of the range
    ** EBITDA outlook for 2025 is targeting a range of NZ$3.5
mln to NZ$4 mln vs EBITDA forecast of NZ$2.5m for FY24
    ** AoFrio stock has risen 51.7%, YTD

    ($1 = 1.7250 New Zealand dollars)

 (Reporting by Namrata Verma in Bengaluru)
 ((namrata.verma@thomsonreuters.com))