NZ's Channel Infrastructure hits 2-1/2-year high on positive forecast

Channel Infrastructure NZ

25/08/2022 04:14

** Shares of Channel Infrastructure NZ Ltd  CHI.NZ  rise as
much as 6.4% to NZ$1.34, their highest since Feb. 27, 2020
    ** Fuel infrastructure co confident of return to dividends
from March 2023  urn:newsml:reuters.com:*:nNZSg06a
    ** Sees indicative dividend range of 8 to 11 NZ cents per
share for FY23
    ** Expects FY23 EBITDA towards the top end of guidance range
    ** HY net profit from cont ops is NZ$5.6 mln ($3.47 mln),
compared to a loss of NZ$4.9 mln a year earlier and in line with
its FY22 guidance
    ** Stock posts its biggest intraday pct gain since Nov. 22,
2021
    ** Stock up for a third straight session
    ** Stock up ~34% this year, as of last close

($1 = 1.6126 New Zealand dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))