Australia's Kip McGrath hits near 6-week high on FY23 revenue forecast

Kip McGrath Education Centres

28/06/2023 02:06

** Shares of tutoring services provider Kip McGrath
Education Centres  KME.AX  jump as much as 17.9% to A$0.495,
their highest level since May 19
    ** Co says it observed improving trading conditions in the
second half of the financial year
    ** Expects FY23 revenue to be between A$26.9 mln and A$27.3
mln ($17.94 mln - $18.21 mln), about 10% higher on PCP
    ** Shares rise even as co expects FY23 to be lower than last
year at A$1.7 mln - A$1.9 mln
    ** KME sees best day since Sept 2020, if gains hold
    ** More than 93,000 shares change hands, compared with the
30-day average volume of 23,000 shares 
    ** Stock down 49.4% this year, as of last close
 

     ($1 = 1.4990 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))