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HUB - Hub24 News Story

A$14.16 -0.2  -1.7%

Last Trade - 2:30am

Sector
Financials
Size
Mid Cap
Market Cap £495.4m
Enterprise Value £487.2m
Revenue £56.4m
Position in Universe 267th / 1835

BUZZ-Australia's Hub24 near 2-week low on weak earnings outlook

Wed 22nd April, 2020 1:55am
** Shares of financial services provider Hub24 Ltd  HUB.AX 
drop as much as 4.8% to A$8.760, their lowest since April 9
    ** Co says funds under administration (FUA) for the March 
quarter decreased by A$2.1 bln ($1.32 bln) to A$15.1 bln from
Dec. 31, 2019 due to negative market movement amid the
coronavirus pandemic urn:newsml:reuters.com:*:nFWN2C913Y
    ** Expects net inflows to soften in the June quarter 
    ** Co also sees negative impact to revenue, administration
fees and earnings in FY20 as a result of FUA movements 
    ** HUB set for second straight day of declines 
    ** Stock down 17.6% this year, as of last close 


($1 = 1.5913 Australian dollars)

 (Reporting by Shriya Ramakrishnan in Bengaluru)
 ((Shriya.Ramakrishnan@thomsonreuters.com;))
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