Australia's Inghams Group drops on weak second-half outlook

Inghams

15/02/2024 23:46

** Shares of Inghams Group  ING.AX  fall as much as 6% to
A$4.060, set for worst day since April 6, 2023, if losses hold  
   
    ** Poultry producer says in its half-yearly results, 2H24
result is expected to be lower than 1H24, citing normal
seasonality and continued inflationary headwinds across ops
    ** Market conditions for consumers over 2H24 are expected to
remain challenging - ING
    ** Stock hits lowest level since Jan. 15
    ** Stock set for third consecutive day of losses, if trend
holds
    ** ING up 9.1% YTD, as of last close

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