Australia's McGrath hits over 2-year high on higher HY earnings view

Mcgrath

26/11/2020 04:29

** Shares of McGrath Ltd  MEA.AX  rise as much as 9.5% to
A$0.46, their highest since Mar. 28, 2018
    ** Real estate firm expects underlying EBITDA to be A$6 mln
($4.42 mln)-A$6.5 mln for H1 FY21, a midpoint increase of A$4.7
mln from year earlier  urn:newsml:reuters.com:*:nASN000KGS
    ** Co says dividend payment now a possibility from H1 FY21
    ** The domestic real estate market is likely to see an
uptick in demand as states ease coronavirus curbs
    ** Stock posts biggest intraday pct gain since Nov. 12
    ** About 849,225 shares change hands vs 30-day average
volume of 160,852 shares
    ** Stock has more than doubled in value this year, as of
last close
    
    ($1 = 1.3581 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com;))