Australia's MotorCycle Holdings hits near 6-week low on profit drop

MotorCycle Holdings

29/08/2022 02:47

** Shares of Australia-based MotorCycle Holdings Ltd
 MTO.AX  fall as much as 11.02% to A$2.18, lowest since July 19
    ** Motorcycle accessories provider says net profit
attributable fell 16% for the year to A$23.9 mln ($16.40
million)  urn:newsml:reuters.com:*:nGLF6wB50L
    ** Says preparing for more subdued trading conditions as
consumer demand moderates due to cost of living pressures
    ** Co declares dividend of A$0.08 per security
    ** Stock posts biggest intraday pct fall since June 10
    ** Stock had fallen 24.4% this year, as of last close

    ($1 = 1.4577 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((rishav.chatterjee@thomsonreuters.com;))