Australia's FFI Holdings hits 1-month low on FY profit forecast cut

FFI Holdings

19/08/2022 06:53

** Shares of food processing co FFI Holdings Ltd  FFI.AX 
fall as much as 1.8% to A$4.99, their lowest since July 19
    ** Co cuts full-year profit forecast to A$1.6 mln ($1.11
mln) from A$1.8 mln due to problems with raw materials,
inventory recoveries and supply chain disruptions  urn:newsml:reuters.com:*:nASX8NQGBL
    ** Profit guided for FY22 lower than net profit attributable
of A$8.7 mln reported for FY21  urn:newsml:reuters.com:*:nFWN2PP0XW
    ** Stock posts biggest intraday pct drop since Aug. 5
    ** Shares down 31.4% YTD, as of last close

($1 = 1.4474 Australian dollars)

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