Australia's Lynch Group hits record high on raised FY profit view

Lynch group

10/06/2021 02:25

** Lynch Group Holdings Ltd   LGL.AX  rises as much as 7.8%
to A$3.860, hitting a record high
    ** The flower retailer says since ASX listing in April, co
has experienced continued strong momentum in both key markets of
Australia and China  urn:newsml:reuters.com:*:nFWN2NR0YR
    ** LGL now expects FY21 post-tax profit of A$31 mln ($23.95
mln) to A$32 mln, above prior outlook of A$28.7 mln 
    ** Says China division expected to exceed performance
outlined in FY21 prospectus
    ** Stock posts biggest intraday pct gain since May 20
    ** More than 142,000 shares change hands vs 30-day average
volume of about 90,000 
    ** Stock up 9.8% since April 6 listing, as of last close


($1 = 1.2943 Australian dollars)

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))