Australia's Collin Foods surges after solid annual results

Collins Foods

25/06/2024 01:36

** Shares of Collin Foods  CKF.AX  surge as much as 10.5% to
A$10.30, set for their best day since Nov 28, 2023, if gains
hold 
    ** The Aussie KFC operator posts FY statutory net profit
after tax of A$76.7 mln ($51.04 mln), compared with A$12.7 mln
y/y
    ** Co declares a fully franked final dividend of 15.5 AU
cents per share 
    ** Co reports a 10.4% rise in revenue from continuing ops of
A$1.49 bln due to growth across all business units     
    ** Co, however, flags that significant inflationary
pressures are expected to remain for the remaining year and
expects margin pressure across the Group
    ** Stock has fallen ~21.3% this year, as of last close

    ($1 = 1.5026 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))