Australia's Atlas Pearls hits 1-year high on positive FY23 forecast

Atlas Pearls

23/06/2023 05:05

** Shares of Atlas Pearls  ATP.AX  rise as much as 20.5% to
A$0.047, their highest since May 12, 2022
    ** The pearling business co says it expects FY23 revenue to
be between A$26 mln ($17.43 mln) and A$28 mln, up from A$21.5
mln a year ago
    ** Co says there is likely to be a corresponding increase in
EBITDA for FY23
    ** ATP says increase in expected revenue reflects a
successful sales auction in Japan earlier this month
    ** ATP stock set for its best day since Feb 28
    ** Stock up 56% YTD, as of last close

     ($1 = 1.4916 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))