Australia's Inghams Group hits 2-year high on HY24 outlook

Inghams

31/10/2023 24:16

** Shares of Australia's Inghams Group Ltd  ING.AX  rise as
much as 13.8% to A$3.880, their highest since Oct 20, 2021
    ** Stock biggest percentage gainer on the S&P/ASX 200 index
 .AXJO  
    ** Poultry producer says it sees half yearly statuary EBITDA
post-AASB16 (Australian leasing standard) of about A$247 mln
($157.29 mln) vs Visible Alpha consensus of A$230 mln, according
to E&P Capital 
    ** Sees half yearly underlying net profit after tax
pre-AASB16 of about A$71 mln vs market estimate of A$47 mln 
    ** Stock posts its biggest intraday percentage gain since
Aug. 17
    ** More than 1.4 mln shares change hands, compared with the
30-day average volume of nearly 1.3 mln
    ** Stock up 19.2% YTD, as of last close

($1 = 1.5704 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))