Australia's Ingenia Communities jumps on earnings forecast hike

Ingenia Communities

14/01/2025 04:59

** Shares of Ingenia Communities Group  INA.AX  rise as much
as 13.6% to A$5.135, posting their biggest intraday pct gain
since late December 2011
    ** Stock hits its highest level since Nov. 28, 2024; top
gainer on the benchmark S&P/ASX 200 index  .AXJO 
    ** Resort operator sees FY25 EBIT in the range of A$162 mln
to A$165 mln ($100.25 mln to $102.10 mln), up from earlier
forecast of A$148 mln to A$155 mln
    ** CEO credits successful execution of plans simplifying
operations, driving operational efficiency and improving
returns, for the forecast hike
    ** Stock closed flat last year
    
($1 = 1.6160 Australian dollars)

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