Shares of Australia's Autosports Group surge on upbeat outlook

Autosports

24/11/2022 23:56

** Shares of Autosports Group Ltd  ASG.AX  climb as much as
5.1% to A$2.080, biggest intraday percent gain since Oct. 11
    ** The automotive dealer says it sees positive momentum
continuing into FY23  urn:newsml:reuters.com:*:nFWN32K0I8
    ** Says normalised net profit before tax for 1H FY23
expected to be A$48 mln ($32.48 mln) to A$50 mln, up 22%-28%
from the prior corresponding period
    ** Says demand for new vehicles remains strong, which ASG
expects will be supported with improvements in supply in FY23 
    ** Shares touch their highest since Oct. 28
    ** Stock has fallen 7.5% this year, as of last close 
($1 = 1.4780 Australian dollars)
 (Reporting by Echha Jain in Bengaluru; Editing by Paul Simao)
 ((Echha.jain@thomsonreuters.com))