Australia's Korvest hits record high after co indicates upbeat profit guidance

Korvest

07/01/2022 24:37

** Shares of Korvest Ltd  KOV.AX  rise as much as 4% to hit
an all-time high of A$7.630
    ** The industrial equipment maker indicates https://www.asx.com.au/asxpdf/20220107/pdf/454t8x0jjtgf93.pdf
 that its H1 FY22 profit before tax will be in the range of
A$9.4 mln ($6.74 mln) to A$9.8 mln
    ** Q2 trading has exceeded expectations with a significant
concentration of major project work and ongoing strength in the
small projects and day-to-day markets - KOV
    ** Stock marks its biggest intraday pct gain since Dec. 13
    ** Volumes are about 2 times their 30-day average of ~6,700
shares
    ** KOV had risen 50% in 2021



($1 = 1.3955 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))