Australia's G8 Education set for worst day in 6 months on tepid outlook

G8 Education

23/08/2021 04:17

** Shares of education centre operator  GEM.AX  fall as much
as 7.1% to A$0.975, their biggest intraday drop since Feb. 23
    ** Co posts strong results but warns of stricter lockdowns
due to rising COVID-19 cases weighing on performance
    ** "Recent lockdowns have impacted the seasonal (occupancy)
trend in H2", co says, adding that progressively stricter curbs
will weigh on attendance in several states
    ** Co posts statutory H1 NPAT of A$25.1 mln ($18 mln) vs
loss of A$244.1 mln a year ago
    ** Stock down 11% so far this year, as of last close
    
($1 = 1.3970 Australian dollars)

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