Australia's Latitude Group dips most in 2 months on steep cuts in earnings view

Latitude group

26/05/2023 01:59

** Shares of Latitude Group Holdings Ltd  LFS.AX  dip as
much as 9.7% to A$1.170, posting their biggest intraday pct drop
since March 22
    ** The fintech firm says it expects to report cash NPAT in
the range of A$5 mln ($3.39 mln) to A$10 mln for the half year
ending June 30 vs A$93 mln reported a year ago
    ** Expects FY23 cash NPAT in the range of A$15 mln to A$25
mln vs A$153.5 mln reported for FY22
    ** Co says unlikely it will declare a dividend for HY 
    ** Adds HY statutory loss after tax from cont ops expected
in the range of A$95 mln to A$105 mln, FY statutory result also
expected to be a loss
    ** Sees to incur costs of A$7 mln (post-tax) in HY from
business disruption associated with cyber attack, the forensic
investigation of which still continues 
    ** Shares hit their lowest level since March 30
    ** LFS stock down 0.8% YTD, as of last close 

    ($1 = 1.4743 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))