Australia's Humm Group jumps on strong first-quarter update

Humm

27/10/2022 01:24

** Shares of Australia's Humm Group  HUM.AX  rise as much as
8.33% to A$0.52, biggest intraday pct gain since July 28
    ** The consumer finance products provider says its first
quarter volumes jumped 29% to A$988.2 million ($641.24
million) urn:newsml:reuters.com:*:nASX9LYz4R
    ** Co posts 8% jump in consumer finance volume to A$601.7
mln for the quarter
    ** Co's BNPL big ticket volumes for Q1 also surge 8% with
cards volume up 19% pcp for the first quarter
    ** The Sydney headquartered co posts a net loss of A$19.3
mln for the quarter despite a 24% growth in receivables
    ** Adds will continue to grow business in a 'profitable' and
'competitive' manner
    ** Stock hits highest since Sept 15
    ** Stock has fallen 46.7% this year as of last close
($1 = 1.5411 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))