Mobico Group climbs on FY earnings beat; co names interim Chair

Mobico

29/04/2025 09:08

April 29 (Reuters) - ** Shares of UK's Mobico Group MCG.L rebound after three consecutive sessions of losses

** Stock climbs as much as 6.1% to 34.56 pence; among the top gainers on the FTSE 250 index .FTMC

** Pre-tax profit came in at 101.1 million pounds ($135.62 million) for FY 2024, exceeding market's expectation of 1.25 million pounds - LSEG compiled data

** The international transport operator reported a 10.3% jump in group revenue to 3.41 billion pounds; against analysts' average estimate of 3.32 billion pounds

** Co's CEO Ignacio Garat will step down and incoming chair Phil White will take on the role of interim Executive Chair

** The Group anticipates continued growth in revenue and adjusted operating profit on a continuing business basis in FY25

** Four of 6 brokerages rate the stock "buy" while two suggest "strong buy"; median PT is 80 pence - data compiled by LSEG

**Stock down 54.7% so far this year

($1 = 0.7455 pounds)

 (Reporting by Amna Mariyam in Bengaluru)

 ((Amna.mariyam@thomsonreuters.com))