Australia's Mirvac falls after annual loss, bleak outlook

Mirvac

08/08/2024 02:12

** Shares of Mirvac Group  MGR.AX  fall as much as 12.3% to
A$1.85, their lowest since July 10
    ** Stock posts its biggest intraday pct fall since March 19,
2020
    ** The property investment firm posts FY loss attributable
of A$805 mln ($524.22 mln), compared with FY23 loss of A$165 mln
    ** Says earnings for next year are expected to be lower
while market conditions are likely to remain challenging
    ** About 18.5 mln shares change hands, compared with the
30-day average volume of 17.7 mln
    ** Stock has risen about 1% this year, as of last close

   ($1 = 1.5356 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))