Australia's MotorCycle slips most in over 3-1/2 yrs on lower earnings view

MotorCycle Holdings

20/12/2023 23:54

** Shares of MotorCycle Holdings  MTO.AX  slip as much as
23.5% to A$1.920, their biggest intraday loss since March 23,
2020
    ** The motorcycle accessories provider says it expects to
report underlying EBITDA of between A$14 mln ($9.43 mln) to A$16
mln for HY 
    ** Co reported an underlying EBITDA of A$18.0 mln in last HY
    ** Says wholesale sales of farm vehicles are slowing, with
increased competition
    ** Adds competitive environment is putting pressure on
margins
    ** Shares hit their lowest level since Aug 30 
    ** About 673,000 shares exchange hands vs the 30-day average
of 75,876 shares
    ** MTO stock up ~5% YTD as of last close 

($1 = 1.4848 Australian dollars)
    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))