Australia's EML Payments climbs on FY profit beat, share buyback

EML Payments

22/08/2022 06:48

** Shares of payments solutions provider EML Payments
 EML.AX  rise as much as 15.1% to A$1.220, their highest since
July 22
    ** FY22 underlying net profit after tax and amortization
down 1% at A$32.1 mln ($22.14 mln) from year earlier, but NPAT
number still came in 22% above RBC estimate and 15% above UBS
estimate  urn:newsml:reuters.com:*:nASX3hLCxg
    ** Group revenue rises 21% to A$234.1 mln
    ** Announces A$20 mln share buyback over next 12 months
 urn:newsml:reuters.com:*:nASX2mDzwj
    ** Analysts at RBC say results appear "generally better than
feared", given more than 60% of business is in Europe, which is
facing macro headwinds
    ** Brokerage says plenty of one-off adjustments in result
"make it quite messy but somewhat understandable" given
complexity of business and litigation costs 
    ** Volumes are 1.5x 30-day average of 6.2 mln shares
    ** As of last close, stock down 67.2% this year


($1 = 1.4497 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))