Australia's Enero Group dives on downbeat annual forecasts

Enero

21/05/2024 01:49

** Shares in Enero Group  EGG.AX  down as much as 16.8% to
nearly 11-month low of A$1.39
    ** Australia's marketing and communication services provider
forecasts lower annual rev and adjusted core earnings due to
global tech sector downturn
    ** Sees FY EBITDA excluding items between A$36 mln- A$39
mln, down 50%-55% on underlying basis 
    ** Sees FY net rev between A$189 mln ($126 mln) and A$192
mln, 20%-22% lower 
    ** Including session's losses, stock has fallen ~7% YTD 


($1 = 1.4999 Australian dollars)

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))