Australia's The Environmental Group rises on higher FY22 forecast

Environmental

13/07/2022 02:58

** Shares of The Environmental Group  EGL.AX  climb as much
as 8.8% to A$0.185, their highest level since July 1
    ** Emission control systems provider says it expects
normalised earnings before interest, taxes, depreciation and
amortization (EBITDA) in FY22 to rise by more than 30%
 urn:newsml:reuters.com:*:nASX5QVVM5 
    ** Firm had earlier forecast a more than 15% increase in
EBITDA after significant items for the year 
    ** Says performance was supported by its waste services
business, which grew organically and provided increased cross
selling opportunities
    ** Trading volumes cross three times the 30-day average,
with about 605,000 shares traded thus far
    ** Stock down 42.4% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))