Australia's Collins Foods gains on solid HY results

Collins Foods

28/11/2023 24:41

(Adds UBS comment)
    ** Shares of Collins Foods  CKF.AX  up 8.2% at A$10.93, set
for best day since June 27, if gains hold
    ** The restaurant operator posts HY net profit attributable
of A$50.5 mln ($33.38 mln), a sharp rise from A$11 mln last year
    ** Co says HY revenue from continuing operations up 14.3% at
A$696.5 mln, with strong growth across all business units
    ** Collins declares fully franked interim dividend of 12.5
AU cents per share
    ** UBS says strong beat in 1H given the cost pressures and
margin beat in 1H, combined with recent pricing increases
suggests upside to margin outlook
    ** Stock up 40.5% YTD as of last close
 

   ($1 = 1.5129 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))