Australia's MLG Oz tumbles on narrowing HY profit

MLG Oz

18/02/2025 03:02

** Shares of MLG Oz  MLG.AX  fall 12.3% to A$0.605
    ** Stock fell as much as 19.6% to A$0.555 in early trade,
its largest intraday pct drop since early June 2021
    ** Mining services provider posts net profit of A$4.1
million for HY2025, down 42.7% from A$7.1 mln logged a year ago
    ** Attributes lower profit to lower revenue in crushing and
screening business, reducing overall profit margins
    ** Adds capex to slow over second half of fiscal 2025
    ** About 1.3 mln shares change hands, 8.3 times the 30-day
avg
    ** Stock up 10% YTD, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))