Australia's Ardent Leisure eyes worst day in over 2-yrs on bleak 2H23 growth

Coast Entertainment Holdings

12/05/2023 04:18

** Shares of Ardent Leisure Group Ltd  ALG.AX  fall as much
as 13.9% to A$0.465
    ** Shares of co set for worst day since April 27, 2021, if
losses hold 
    ** Leisure and entertainment group says Y/Y growth moderated
in 2H23 due to reduction in consumer spending   
    ** Co's shares hit their lowest level since Oct 25, 2022
    ** Says high inflation, rising interest rates and recession
fears in the current macroeconomic environment affected consumer
spending 
    ** Adds 2H22 comparative period saw significantly improved
performance due to reopening of Queensland borders and the
easing of COVID-related restrictions in late December 2021 
    ** About 5.3 mln shares change hand at 2:08 am GMT compared
to 30-day average trading volume of 473,832 shares 
    ** Shares of co are down 10.7% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))