Australia's MAAS Group jumps on entering construction materials sector in Victoria

MAAS group

25/11/2022 24:44

** MAAS Group Holdings  MGH.AX  rises as much as 3.2% to
A$2.58, highest level since Oct. 25
    ** Construction materials provider says acquired
Melbourne-based premixed concrete supplier Dandy Premix for A$85
mln ($57.42 mln) 
    ** Acquisition marks its first foray in the construction
sector in the state of Victoria
    ** Expects acquisition to be EPS accretive and contribute
strongly to earnings in FY24 and beyond
    ** MGH set for third straight positive session, if gains
hold; on track to end the week 3.7% in black, third consecutive
weekly gain
    ** MGH down 52.8% this year as of last close, vs a 4.5%
decline in the ASX All Ordinaries index  .AORD  
($1 = 1.4804 Australian dollars)
 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))