Aussie home appliances maker Breville slumps after weak outlook, results

Brg SA

13/02/2024 24:09

** Australian home appliances manufacturer Breville Group
 BRG.AX  slumps as much as 13.2% to A$23.720, their biggest
intraday pct drop since March 2020
    ** BRG among top five losers in the ASX 200 benchmark index
 .AXJO 
    ** BRG at its lowest level since Dec. 7 last year
    ** Forecasts FY24 EBIT growth of between 5% and 7.5% vs
10.0% growth logged in FY23
    ** Says macroeconomic and mean reversions headwinds expected
to continue in 2H24
    ** 1H24 NPAT of A$84.0 mln ($54.83 mln) up 6.7% from a year
ago, but 4.2% below Macquarie estimate
    ** 1H24 revenue of A$905.8 mln misses Macquarie estimate of
A$949.4 mln
    ** BRG up 0.3% this year as of last close


($1 = 1.5321 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))