Australia's MoneyMe rises on favourable quarterly results

Moneyme

01/08/2024 06:57

** Shares of MoneyMe  MME.AX  jump 9.1% to A$0.084, their
highest since late-March
    ** Stock set for best day since May 31, if gains hold
    ** The consumer finance lender reports gross revenue of A$54
mln ($35.3 mln) for quarter, up 1% on prior quarter
    ** Co's loan book balance up 6% at A$1.22 bln
    ** says net credit losses reduced to 4.5% for quarter,
compared with 5.8% in prior corresponding period
    ** Around 1.5 mln shares change hands, compared with the
30-day average volume of 641,286 shares
    ** Stock has fallen 7.2% this year, as of last close

    ($1 = 1.5316 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))