Australia's Close The Loop jumps on upbeat earnings outlook

Close The Loop

23/06/2025 04:29

** Close The Loop CLG.AX jumps 8.7% to A$0.025; set for best day since November 19

** Recycled products maker estimates cash on hand to be in excess of A$30 mln (~$19 mln) as of June 30

** Expects FY26 revenue and EBITDA to increase

** Earlier, co pegged H2 FY25 EBITDA to be 50% lower than H1

** Says co's Mexico facility to be operational in H1 FY26

** Stock sees most active session since July 31, 2024, with ~15.5 mln shares traded - 7.4x the 30-day avg

** CLG loses 89.4% YTD

($1 = A$1.5605)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))