Australia's Macmahon Holdings soars on upbeat FY guidance & earnings

Macmahon Holdings

20/08/2024 05:27

** Shares of Macmahon Holdings  MAH.AX  rise as much as
11.2% to A$0.32, their highest level since Feb. 28, 2013
    ** Shares of co on track for its best day since June 29,
2023, if gains hold
    ** The mining services provider sees FY25 underlying EBIT(A)
of A$160 mln - A$175 mln ($107.42 mln - $117.50 mln)
    ** Co sees FY25 revenue of A$2.4 bln - A$2.5 bln
    ** Co posts FY24 underlying EBIT(A) of A$140.3 mln, up 20.3%
    ** Adds, FY24 revenue of A$2 bln, up 6.6%
    ** About 8.2 mln shares change hands by 0354 GMT, 3.4 times
the 30-day average volume of shares
    ** Stock has risen 56.8% this year as of last close

($1 = 1.4894 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))