Australia's Cettire falls on lower-than-expected annual earnings

Cettire

29/08/2024 02:30

** Shares of Cettire  CTT.AX  fall as much as 19.6% to
A$1.070, their lowest level since June 27
    ** Australia-based luxury online retailer reported FY
adjusted EBITDA of A$32.5 mln($22.09 mln), missing Visible Alpha
consensus estimates of A$36.4 mln
    ** Analysts at UBS say CTT's start to FY25 is "weak"
compared to the market
    ** Around 4.7 mln shares change hands, compared with the
30-day average volume of 3.0 mln shares
    ** Stock has fallen 54.1% this year as of last close
    


($1 = 1.4710 Australian dollars)

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