Australia's Beforepay Group falls on bleak outlook and weak quarterly results

Beforepay

29/01/2024 01:31

** Shares of Beforepay Group  B4P.AX  fall as much as 8% to
A$0.405, hitting their lowest level since Jan. 19
    ** Stock faces worst day since Jan. 12, if current losses
hold
    ** Financial services provider expects Q3 FY24 may show
higher net defaults than Q2 FY24, as advances issued during the
holiday season mature
    ** Co reports Q2 FY24 EBITDA of A$1.63 mln ($1.07 mln) vs
A$2.51 mln in Q1 FY24
    ** Stock up 7.3% this year, as of last close
    
($1 = 1.5181 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))