Australia's Locality Planning Energy climbs to over 2-year high on FY24 forecast upgrade

Locality Planning Energy Holdings

17/05/2024 01:41

** Shares of Locality Planning Energy  LPE.AX  rise as much
as 17.7% to A$0.1, their highest since Feb 22, 2022
    ** Stock posts its biggest intraday pct gain since April 16
    ** The electricity distributor raises its forecast for FY24
net profit to the range of A$1.95 mln to A$2 mln ($1.30 mln -
$1.34 mln) versus a net loss of A$12 mln for FY23
    ** Says FY24 EBITDA forecast between A$3.3 mln and A$3.5 mln
    ** Stock has risen 107.3% this year, as of last close

    ($1 = 1.4981 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))