Australia's Cobram Estate Olives jumps on flagging higher crop yield for FY23

Cobram Estate Olives

01/05/2023 04:23

** Shares of Australia's Cobram Estate Olives  CBO.AX  rise
as much as 4.4% to A$1.369, set to mark best day since April 5,
if current gains hold  
    ** Stock hits highest since April 17  
    ** Olive oil producer and marketer says co is expected to
deliver a significantly higher yielding olive crop for FY2023 
as compared to FY2022
    ** Says sales for the March 2023 quarter have been strong
with packaged goods sales for the quarter being higher than each
of the September and December 2022 quarters in both the
Australian and U.S. operations 
    ** Adds sales outlook remains positive for the last quarter
of FY2023
    ** CBO has fallen 10.6% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))