Australia's Korvest sees worst day in over a month on lower HY profit

Korvest

24/01/2023 24:33

** Shares of Korvest Ltd  KOV.AX  fall as much as 2% to
A$7.930, their biggest intraday pct loss since Dec. 8, 2022
    ** The industrial equipment maker posts a 35.8% drop in its
HY NPAT attributable to A$4.5 million ($3.16 million)
    ** Says HY revenues from ordinary activities up 2.7% to A$53
mln
    ** Co proposes an interim dividend of 25 AU cents per share 
    ** Co says it expects 2H FY23 to be similar to 1H FY23
    ** Shares touch their lowest level since Jan. 17
    ** Volumes are 3x the 30-day average of 4,755 shares
    ** Shares gained 4.8% in 2022
($1 = 1.4239 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))