Australia's Beston Global Food climbs on upbeat earnings view

Beston Global Food

07/10/2022 04:16

(Adds weekly move)
    ** Shares of Beston Global Food  BFC.AX  surge as much as
28.2% to A$0.071, on track for their best day since June 23 
    ** Co says sales in the first quarter stood at A$46.6 mln
($29.86 mln), up 49% from a year earlier  urn:newsml:reuters.com:*:nASX1TJF47
    ** Expects group sales for FY23 to be at the upper end of
A$150 mln ($96.12 mln) to A$180 mln
    ** Group's first-quarter core earnings and net profit after
tax positive, with FY23 EBITDA guidance reaffirmed at A$8 mln to
A$10 mln
    ** Shares on track to gain 10.5% this week, biggest since
the week ended June 24
    ** Stock hits highest level since Aug 31 
    ** Stock down 23.6% this year, as of last close 
($1 = 1.5605 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))