Australia's MAAS Group sees best day in nearly two years on guidance hike

MAAS group

09/02/2023 24:22

** Shares of MAAS Group Holdings  MGH.AX  advance as much as
13.2% to A$3.26, their best day since April 29, 2021 - if gains
hold 
    ** The construction materials provider says it expects
pro-forma earnings before interest, tax, depreciation and
amortisation for 1H FY23 to be between A$64 million ($44.31
million) and A$66 million, ~60% increase from A$40.1 mln
reported previous year.  urn:newsml:reuters.com:*:nFWN34O3H3
    ** Co reaffirms FY23 pro-forma EBITDA in the range of A$150
mln-A$180 mln
    ** Also adds FY23 results will be strongly second-half
weighted, due to expected return to normal operating conditions
for several major infrastructure projects, among others  
    ** Shares hit highest since Oct. 5 
    ** Stock has risen ~8.3% this year, as of last close
($1 = 1.4443 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))