Australia's Emeco hits over 19-week low on subdued outlook for FY23

Emeco Holdings

16/11/2022 23:45

** Shares of mining equipment provider Emeco Holdings  EHL.AX 
slump as much as 7.4% to A$0.690, their lowest since July 5 
    ** Sees FY23 operating EBITDA in the range of A$245 to A$260
million vs previous range of A$250 mln to A$260 mln  urn:newsml:reuters.com:*:nFWN32C3PZ
    ** However, EHL says second half of 2023 expected to bounce
back with growth in margin and earnings 
    ** Shares on track for their biggest pct loss since Oct. 17 
    ** Stock down 15.3% this year as of last close, vs a 4.3%
decrease in the benchmark S&P/ASX 200 index  .AXJO  
 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))