Australia's Mader Group hits record low on weaker-than-expected results, forecast

Mader

20/08/2024 02:31

** Shares of specialist technical services provider Mader
Group  MAD.AX  fall as much as 17.5% to an all-time low of
A$5.30
    ** Co posts FY NPAT of A$50.4 mln ($33.91 mln), up 31% from
last year but missing consensus estimate of A$51.9 mln
    ** Posts FY revenue of A$774.5 mln, also lower than
consensus expectations of A$785 mln
    ** Sees FY25 NPAT of A$57 mln, lower than consensus estimate
of A$64.5 mln
    ** MAD among top losers on ASX All Ordinaries index  .AORD 
    ** As of last close, stock down 6.3% YTD

($1 = 1.4861 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))