Australia's Costa Group jumps on robust FY profit

Costa group

22/02/2022 01:25

** Shares of Costa Group Holdings Ltd  CGC.AX  rise as much
as 10% to A$3.30, their highest since Sept. 24, 2021
    ** Fruit grower posts FY21 EBITDA of A$218 million ($156.81
million), in line with Citi's estimate of A$217 million but 2%
ahead of Visible Alpha consensus of A$213 million  urn:newsml:reuters.com:*:nFWN2UW0VM
    ** EBITDA margins were better than expected at 13.6%,
leading to Produce EBITDA +1% ahead of estimates, despite lower
than expected revenues - Citi
    ** Over 5.7 mln shares change hands, vs 30-day average
volume of ~1.3 mln
    ** Stock up ~1% YTD as of last close


($1 = 1.3902 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))