Australia's Lynch Group climbs after raising FY profit forecast

LGL

01/06/2023 02:14

** Shares of horticulture firm Lynch Group Holdings  LGL.AX 
rise as much as 14% to A$2.160, their highest since Nov 17
    ** Lynch stock set for best day since Aug 17, if gains hold
    ** Co expects to post higher FY23 group EBITDA in the range
of A$42 mln ($28.49 mln) to A$43 mln, compared with previous
forecast of between A$36 mln and A$40 mln
    ** Co expects to resume dividend in H2 FY23
    ** Co says consumer demand for floral products remains
strong
    ** As of last close, LGL stock up 26.3% this year

    ($1 = 1.4743 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))