Australia's Maggie Beer sees worst day in over 2 years on weak FY22 forecast

Maggie Beer Holdings

12/05/2022 06:10

** Shares of the food and beverage firm  MBH.AX  slip as
much as 17.4% to A$0.380, their biggest intraday pct loss since
March 2020
    ** Maggie Beer says cost hike and disruption to global
supply chains and customer orders will impact FY22 results 
 urn:newsml:reuters.com:*:nASM000BDY
    ** Says FY22 earnings impact will start to abate when price
increases are realized late FY22 
    ** Says challenges will decrease MBH's FY22 trading EBITDA
by A$4.2 mln ($2.90 mln)
    ** Shares hit their highest since Sept 2021 
    ** More than 1.8 mln shares change hands, as compared with
the 30-day average volume of ~526,207 shares  
    ** Stock down 14.8% this year, as of last close, vs a 6.6%
drop in the benchmark S&P/ASX 200 index  .AXJO  


    ($1 = 1.4495 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))