Australia's Lynch Group slips on shutting down 2 farms

Lynch group

04/04/2025 05:44

** Lynch Group LGL.AX falls 3.1% to A$1.7; on track for biggest intraday pct loss since March 11

** Horticulture firm announces closure of two of its three potted farms in Australia

** Says closures will have A$3.5 mln ($2.2 mln)-A$4 mln one-off cash cost and A$8.5 mln-A$9.5 mln non-cash cost in FY25

** Reaffirms FY25 group EBITDA margin, revenue growth outlook

** LGL loses 7.6% YTD

($1 = A$1.6031)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))