Australia's Mcgrath jumps on positive outlook

Mcgrath

16/11/2023 04:34

** Shares of Mcgrath  MEA.AX  rise as much as 8.8% to
A$0.435, posting their biggest intraday percentage gain since
Oct. 27, 2022
    ** Stock hits its highest level since Aug. 22
    ** Residential real estate co sees half year underlying
EBITDA to be between the range of A$4.5 mln ($2.91 mln) to A$5
mln
    ** Says midpoint of forecast range represents about 40%
increase in underlying EBITDA over previous year
    ** About 160,009 shares change hands, compared with the
30-day average volume of 38,422
    ** Stock up 9.1% YTD, based on last close

($1 = 1.5468 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))