Australia's Korvest hits over 6-1/2-year high after raising H2 profit forecast

Korvest

05/07/2021 02:53

** Infrastructure provider Korvest Ltd  KOV.AX  climbs as
much as 9.5% to A$5.44 – its highest since Oct. 27, 2014
    ** Co raises forecast for H2 profit before tax to a range of
A$4.4 mln–A$4.7 mln ($3.31 mln-$3.53 mln) from A$3.3 mln-A$3.8
mln due to an increase in activity during May-June  urn:newsml:reuters.com:*:nL5N2OH00C
    ** Stock posts its biggest intraday percentage gain since
May 6
    ** About 55,000 shares change hands, compared with the
30-day average volume of about 7,000 shares
    ** KOV up for a second consecutive session; down nearly 1%
this year, as of last close
($1 = 1.3305 Australian dollars)

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