NZ's Asset Plus slumps as co swings to FY loss, suspends dividend

Asset Plus

29/05/2023 01:37

** Shares of Asset Plus Ltd  APL.NZ  fall as much as 3.9% to
NZ$0.245, their biggest intraday pct loss since April 21
    ** The commercial property investor posts FY total loss
after tax of NZ$13.05 mln ($8.28 mln), down from a profit of
NZ$2.93 mln in previous year
    ** Says dividend will likely remain suspended until future
direction of company is confirmed
    ** Co posts total revenue of NZ$6.4 mln for full year, down
46.6% 
    ** Stock touches its lowest level since May 15
    ** More than 209,679 shares change hands, vs the 30-day
average volume of 194,872 shares
    ** Asset Plus stock up 13.3% this year, as of last close

      ($1 = 1.5763 New Zealand dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))