Australia's IVE Group rises on upbeat FY21 earnings outlook

Ive

26/05/2021 03:36

** Shares of marketing firm  IGL.AX  jumps as much as 12.5%
to A1.395, biggest intraday pct gain since Feb. 25
    ** Co sees FY21 underlying EBITDA from continuing operations
to be ~A$98 mln ($76.20 mln)-A$100 mln ($77.76 mln)vs A$76.6 mln
as reported in FY20  urn:newsml:reuters.com:*:nASN0018KH
    ** IGL says projected net debt at June 30, 2021, expected to
be ~A$90 mln-A$100 mln vs A$137.1 mln as at June 30, 2020
    ** Stock hits highest level since May 5
    ** ~730,000 shares change hands compared vs 30-day average
volume of ~260,000 shares
    ** IGL on track to post its third consecutive session of
gains; down ~13% this year, as of last close
($1 = 1.2860 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))