Australia's McGrath hits 9-week high, sees earnings riding on booming housing market

Mcgrath

26/04/2021 01:31

** McGrath Ltd  MEA.AX  climbs as much as 9.6% to A$0.713
after setting FY21 earnings guidance at least four times of what
the real estate firm reported a year ago 
    ** Shares hit a nine-week high in volumes more than two
times their 30-day average 
    ** MEA sees FY21 underlying EBITDA between A$16.5 mln and
A$17.5 mln ($12.78 mln-$13.56 mln), vs A$3.7 mln reported a year
earlier
    ** Says booming housing market supporting price growth
    ** MEA offers sales, property management and mortgage
broking services
    
($1 = 1.2907 Australian dollars)

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))