Australia's Dusk Group hits near 4-month high on strong start to FY23

Dusk

02/09/2022 05:39

** Shares of Australia's Dusk Group Ltd  DSK.AX  rise as
much as 10.9% to A$2.45 - their highest level since May 3 
    ** Home fragrance products retailer says sales in first
eight weeks of FY23 rose 33% from year ago  urn:newsml:reuters.com:*:nASXbJHqD8
    ** "We are seeing large channel shifts in our business, with
customers returning to stores and sales in the online channel
declining materially versus prior year" - CEO Peter King
    ** Co, however, posts FY22 net profit attributable of A$18.5
mln ($12.55 mln),down 15.5%
    ** Co's sales in FY22 was impacted by store closures in H1,
which reduced number of store trading days by ~24%
    ** Co still declares final dividend of 10 Australian cents
per share
    ** Expects to open further five stores in Australia before
Christmas and first three stores in New Zealand across Sept and
Oct
    ** Stock posts biggest intraday pct gains since June 17
    ** More than 134,000 shares change hands, vs the 30-day
average volume of 53,000 shares
    ** Stock down 30.7% YTD as of last close 

    
($1 = 1.4741 Australian dollars)
    

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