Australia's Generation Development Group hits 7-1/2-mth high on positive FY results

Generation Development

30/08/2023 04:39

** Shares of Generation Development Group  GDG.AX  rise as
much as 5.6% to A$1.41, highest since Jan. 11
    ** Life insurance manager reports FY net profit attributable
of A$4.5 mln ($2.91 mln), up 137% from last year
    ** Co reports 243% increase in FY revenue from ordinary
activities
    ** Declares fully franked final dividend of 1 Australian
cent per share 
    ** Stock set for best day since Aug. 10, if gains hold
    ** GDG up 7.7% YTD, as of last close

($1 = 1.5470 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))