Australia's Navigator Global Investments hits over 4-year high on FY forecast

Navigator Global Investments

03/06/2024 01:54

** Shares of Navigator Global Investments  NGI.AX  rise as
much as 18.9% to A$2.20, their highest level since April 2020
    ** Stock on track for their best day since early-April 2022
    ** Asset manager sees FY24 adjusted EBITDA between $85.0 mln
to $89.0 mln; posts FY23 adjusted EBITDA of $48.9 mln
    ** Says strong profit distributions from partner firms is
driving significant H2 earnings uplift
    ** About 655,779 shares change hand compared to 30-day
average trading volume of 541,813 shares
    ** Stock up 45.7% YTD as of last close

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))