Australia's Macmahon rises on strong FY24 outlook

Macmahon Holdings

22/08/2023 03:41

** Shares of Macmahon Holdings Ltd  MAH.AX  rise as much as
6.5% to A$0.16
    ** Mining services co forecasts FY24 revenue between A$1.7
bln ($1.09 billion) - A$1.8 bln, vs average analysts' estimate
of A$1.72 bln 
    ** Says FY24 targeted dividend payout ratio range will
increase from 10% to 25% to 20% to 35% of underlying earnings
per share
    ** Co reports FY rev of A$1.9 bln, up 12%
    ** Stock up 6.9% this year, as of last close



($1 = 1.5588 Australian dollars)

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
 ;))