Australia's McMillan Shakespeare gains on solid Q1 results

McMillan Shakespeare

24/10/2023 05:33

** Shares of McMillan Shakespeare  MMS.AX  rise as much as
10.9% to A$16.71, its highest level since Sept. 26
    ** MMS shares currently up 9.1% at A$16.54, set for its best
day since Aug. 23, if gains hold
    ** Co records 28% increase in quarterly novated lease unit
sales for its Group Remuneration Services (GRS) segment
    ** Adds GRS segment’s Q1 normalised revenue rose 29% YoY
    ** About 325,700 shares change hands as at 0351 GMT, about
1.5 times the 30-day average
    ** Stock has risen ~12% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((sherin.sunny@thomsonreuters.com;))