Australia's Dusk Group hits record low on lacklustre FY23 outlook

Dusk

19/05/2023 04:03

(Updates share moves, comment from Canaccord Genuity)
    ** Shares of Dusk Group Ltd  DSK.AX  slide as much as 16.5%
to a record low of A$1.265 
    ** Fragrance products retailer sees FY23 sales in the range
of A$135.0 mln ($91.57 mln) and A$137.0 mln, compared with
A$138.4 mln reported in FY22
    ** Sees gross margin rate for FY23 broadly in line with
prior year
    ** "DSK's trading update this morning was a touch on the
negative side" - Canaccord Genuity 
    ** DSK stock down 16.6% so far this week, set for its worst
week ever
    ** More than 840,000 shares change hands, over eight times
the 30-day average volume 
    ** Stock down 13.9% this year, as of last close

($1 = 1.4743 Australian dollars)

 (Reporting by Harish Sridharan and Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))