Australia's Kelsian Group slumps on FY25 depreciation, interest expenses forecast

Kelsian

26/08/2024 02:16

** Shares of Kelsian Group  KLS.AX  fall as much as 25.8% to
A$3.720, hitting their lowest level since mid-May 2020
    ** Stock loses most on benchmark S&P/ASX 200 index  .AXJO 
    ** Transport services provider flags higher depreciation and
interest expenses for FY25
    ** Co now expects FY25 depreciation to be A$117 mln ($79.45
mln) and interest expense to be A$59 mln, compared with A$109.2
mln and A$50.4 mln respectively in FY24
    ** Co, however, expects a 32.3% increase in underlying net
profit after tax and before amortisation to A$92.6 mln in FY24
results, due on Wednesday
    ** Stock had fallen 28.4% this year, as of last close

($1 = 1.4725 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))