Australia's Delorean Corp hits 21-mnth high on positive FY24 outlook

Iceco

23/07/2024 03:15

** Shares of Delorean Corp  DEL.AX  more-than-double to
touch A$0.105, their highest since Oct. 24, 2022
    ** Stock posts its best intraday pct gain ever
    ** Renewable energy and waste management firm sees FY24
revenue to be between A$27 mln ($17.93 mln) and A$28 mln vs FY23
revenue of A$19.3 mln
    ** Says co expects a record net profit after tax for the
year with EBITDA forecast between A$4.5 mln and A$5.1 mln
    ** Co had delivered a loss of A$10.1 mln for the previous
year
    ** About 11.4 mln shares change hands, compared with the
30-day average volume of 181,976
    ** Stock has risen 74.1% this year, as of last close


($1 = 1.5060 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))