Australia's Johns Lyng extends losses as revenue misses view, own forecast

Johns Lyng

28/08/2024 02:36

** Shares of building services provider Johns Lyng Group
 JLG.AX  extended losses to drop as much as 8.9% to A$3.700,
their lowest since March 2021
    ** Co reported FY24 revenue of A$1.16 bln ($785.55 bln),
5-6% below expectations, and also below its own forecast of
A$1.21 bln on Tuesday
    ** Stock is the biggest pct loser on the benchmark S&P/ASX
200 index  .AXJO  
    ** More than 8.2 mln shares change hands as compared with
the 30-day average volume of about 985,168 shares  
    ** Stock down 33.7% this year as of last close, vs a 6.3%
increase in AXJO 


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))