UK's Mobico gains on H1 profit jump, move to trim debt
21/08/2024 08:55
(Updates share move)
** Shares of transport company Mobico Group MCG.L jump as
much as 19% to 69.15p, a more than four-month high
** Stock top pct gainer on FTSE Small Cap .FTSC index,
which is up 0.24%
** Stock also on track for best day since early-March 2022,
if gains hold
** Co posts 28.1% jump in H1 adjusted operating profit
** Also starts sale process for its North American school
bus business and will launch other debt reduction initiatives
this year
** MCG retains annual profit forecast of 185 mln pounds-205
mln pounds
** With session's gains, stock trims YTD losses to 19.6%
($1 = 0.7680 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))