NZ's Move Logistics falls most in a week on H1 FY24 outlook

Move Logistics

21/12/2023 23:54

** Shares of Move Logistics  MOV.NZ  fall as much as 5.2% to
NZ$0.5500, on track for worst day since Dec. 15 - if losses hold
    ** Freight operator says economic and sector headwinds
continue to impact customer volumes, costs and growth
opportunities, with softer 1H24 result expected
    ** Says 1H24 normalised EBITDA is expected to be between
NZ$11.5 mln and NZ$12.5 mln ($7.24 mln-$7.87 mln) vs NZ$21.9 mln
reported last year 
    ** Stock hits its lowest level since Dec. 18
    ** Stock, however, on track for best week since Nov. 17
    ** Stock had fallen 48.2% YTD, as of last close

($1 = 1.5888 New Zealand dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))