Australia's Mayfield group gains on solid FY forecast

Mayfield group

23/06/2023 03:32

** Shares of Mayfield Group  MYG.AX  rise as much as 15.8%
to A$0.440, their highest since Aug 2, 2022
    ** Electrical and telecommunications co says it remains
optimistic about 2024, with strong order book and significant
prospects 
    ** Co now sees FY23 profit before tax of A$3.8 mln ($2.56
mln), compared with a loss of A$2.6 mln a year ago
    ** MYG sees FY revenue of about A$77 mln, down from A$82.3
mln a year earlier
    ** Says co will pay a final dividend of 1 Australian cent
per share
    ** MYG stock on track for best day since Oct 19, 2022, if
gains hold
    ** Stock up ~6% YTD, as of last close

($1 = 1.4848 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))