Australia's DGL Group hits over 2-year low on slashing FY23 earnings outlook

DGL

15/06/2023 01:41

** Shares of DGL Group  DGL.AX  fall as much as 15.5% to
A$0.98, lowest since May 24, 2021
    ** Chemicals manufacturer lowers its FY23 EBITDA guidance
between A$64 mln to A$66 mln ($43.49 mln - $44.85 mln) from its
previous forecast of A$71.5 mln - A$73.5 mln
    ** Co cites higher operating costs particularly at its
Environmental division for the revised outlook     
    ** DGL on track for worst day since Sept. 1, if current
losses hold
    ** Stock has fallen 17.7% this year as of last close 
    



($1 = 1.4715 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))