Australia's Lynch Group faces worst day in a month on FY24 forecast cut

Lynch group

07/06/2024 02:08

** Shares of Lynch Group Holdings  LGL.AX  fall as much as
2.9% to A$1.355, set for worst day since May 9 if current losses
hold
    ** Horticulture firm trims FY24 group EBITDA forecast to
A$39 mln ($26.01 mln) from A$40 mln-A$43 mln
    ** Co says cut reflects softer trading conditions in China,
among others
    ** Says China revenue currently down 12% year-to-date on
FY23
    ** Stock had fallen 20.3% this year, as of last close

($1 = 1.4997 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))