Australia's Excelsior Capital jumps after FY23 guidance

Excelsior Capital

26/07/2023 01:51

** Shares of Excelsior Capital Ltd  ECL.AX  rise as much as
8.9% to A$2.45, posting their biggest intraday pct jump since
Nov 10, 2022
    ** Electrical components distributer expects FY23 net profit
after tax to be A$10.1 mln ($6.9 mln), higher than A$8.0 mln in
FY22
    ** Expects group’s full-year EBIT to be up 25% Y/Y 
    ** Pegs FY23 preliminary, unaudited group EBIT at A$14.3 mln
($9.70 mln) on a normalised basis 
    ** Co's shares hit highest level since May 17 
    ** Shares up 8.7% this year, as of last close 
   


($1 = 1.4745 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))