Australia's ARB loses most in over 3 years on lower FY profit

ARB

22/08/2023 02:23

** Shares of Australia's ARB Corporation  ARB.AX  fall as
much as 14.9% to A$28.55, posting their worst intraday pct drop
since March 23, 2020
    ** Stock hits lowest level since July 11 
    ** The car accessories maker posts full-year net profit 
attributable of A$88.5 mln ($56.68 mln), lower from last year's
profit of A$122 mln  
    ** Says full-year sales revenue came in at A$671.2 mln, down
from last year's revenue of A$694.5 mln
    ** Adds outlook remains positive with ongoing healthy demand
for co's products among others
    ** Stock up 30.6% this year, as of last close

    ($1 = 1.5613 Australian dollars)
    
    

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))