Australia's Mader Group hits record high on strong revenue growth

Mader

26/10/2021 03:49

** Shares of Mader Group  MAD.AX  jump as much as 11.8% to a
record high of A$1.765 
    ** Business support services provider posts a 31% rise in Q1
FY22 revenue to A$91.1 mln ($68.00 mln)
    ** Co says revenue growth driven by service offering
diversification in Australia, including supply of automotive and
high voltage electrical specialists to two large owner miners 
    ** MAD maintains FY22 revenue guidance of A$355 mln to A$365
mln and net profit after tax between A$23 mln to A$25 mln 
    ** Stock posts biggest intraday pct gain since April 28,
2020
    ** More than 170,000 shares change hands, compared with the
30-day average of ~185,000 shares 
    ** Stock up 64.8% this year, as of last close
    
    ($1 = 1.3398 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))