Australia's Eureka Group slumps as flood hits operations, damages NSW property

Eureka group

01/03/2022 01:14

** Property manager Eureka Group  EGH.AX  slumps as much as
10.6% to A$0.59, its biggest intraday pct drop since May 7
    ** EGH, which owns or manages 12 villages in Southeast
Queensland and Northern New South Wales, says https://www.eurekagroupholdings.com.au/wp-content/uploads/Impact-of-Flood-Event-in-South-East-Qld-and-Northern-NSW.pdf
 preliminarily, villages have not been significantly impacted
from floods
    ** However, property in Lismore, NSW has been "inundated"
with "record" flood waters
    ** Full impact of flooding at Lismore property not being
assessed currently; possible loss of income and cost to rectify
may exceed the insured amount
    ** EGH at its lowest since Aug. 24
    ** More than 151,000 shares change hands, vs the 30-day
average of 81,387 shares
    ** EGH down 7% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))