Australia's Emeco hits near four-month high on upbeat FY results, outlook

Emeco Holdings

17/08/2022 05:49

** Shares of mining equipment and services company Emeco
Holdings Ltd  EHL.AX  rise as much as 7.4% to A$0.87, their
highest since April 21
    ** Says revenue rose 22% to A$754 mln ($528.33 mln) for 2022
due to 76% revenue growth in its Pit N Portal segment as new
projects commenced and activity ramped up  urn:newsml:reuters.com:*:nASX1Wh5xp
    ** Posts FY annual profit attributable of A$65 million vs
A$20.7 million last year
    ** Expects growth in all operating segments in FY23
    ** Stock tracks best day since Jan 13 at current level
    ** More than 732,000 shares change hands, compared with the
30-day average volume of about 625,000 shares
    ** Stock has fallen 8% this year, as of last close
 


($1 = 1.4271 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((john.biju@thomsonreuters.com;))