Australia's Megaport worst performer on ASX 200 on outlook miss

Megaport

22/08/2024 01:53

** Shares of Australian network services provider Megaport
 MP1.AX  plunge as much as 21.7% to A$9.230, their worst
intraday drop since Oct. 26, 2023
    ** MP1 falls to its lowest level since Jan. 18; top loser in
the ASX 200 benchmark index  .AXJO 
    ** Forecasts FY25 revenue between A$214 mln ($144.34 mln)
and A$222 mln, below Visible Alpha consensus of A$233.1 mln
    ** FY25 EBITDA view of A$57 mln to A$65 mln also falls short
of A$73.3 mln consensus estimate
    ** Logs its first ever net profit of A$9.6 mln, ahead of
market view of A$8.9 mln
    ** More than 2.1 mln shares change hands, vs the 30-day
average of 833,175 shares
    ** MP1 up 28% this year as of last close


($1 = 1.4826 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))