Australia's MLG hits record low on prospects of tepid H1 revenue outlook

MLG Oz

04/06/2021 02:17

** Shares of MLG Oz Ltd  MLG.AX  slump as much as 14.9% to
A$1.085 to their lowest on record since its IPO on May 4
    ** The supply chain solutions provider says lack of
processing material will negatively impact the crushing and
screening revenue in the first half of FY2022  urn:newsml:reuters.com:*:nASX9kqgXf
    ** Adds that its crushing and screening operations have
experienced a reduction in available material to process from
several clients across the last quarter of FY2021
    ** Board expects the overall impact of this to be mitigated
in the second half of FY2022 - MLG
    ** Stock on track for its third session of losses
    ** Nearly 963,000 shares change hands, compared with the
30-day average volume of 907,000 shares
    ** Stock up 0.8% since its IPO in May

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))