Australia's Earlypay hits over 6-year low after withdrawing forecast

Earlypay

23/12/2022 04:27

(Adds weekly moves, updates daily milestone)
    ** Shares of Earlypay Ltd  EPY.AX  fall as much as 43.8% to
A$0.180, their lowest since Aug. 11, 2016
    ** Financial products and service provider withdraws
earnings and dividend guidance for FY23  urn:newsml:reuters.com:*:nASX3s0Rrt
    ** Co states "uncertainty" over A$29 mln ($19.35 million)
credit to be recovered from its largest creditor, RevRoof Pty
Ltd, a roofing contractor in Australia  urn:newsml:reuters.com:*:nASXtyhYG 
    ** Says RevRoof is co's largest single borrower exposure
    ** Shares see biggest intraday fall since May 13, 2020
    ** EPY has fallen 42.6% so far this week, set for worst week
ever
    ** Stock is down 26.4% YTD as of last close 
($1 = 1.4988 Australian dollars)
 (Reporting by John Biju and Echha Jain in Bengaluru)
 ((John.Biju@thomsonreuters.com; Echha.jain@thomsonreuters.com))