Australia's Judo Capital hits 1-1/2-year high on strong FY results

Newpoint Financial

20/08/2024 02:08

** Shares of Judo Capital  JDO.AX  climb as much as 11.2% to
A$1.540, their highest since February 2023
    ** The holding company of Judo Bank posts 2% rise in FY
underlying profit before tax to A$110.1 mln ($74.04 mln) 
    ** Posts FY net interest margin of 2.94%, above previous
forecast of 2.85% to 2.90%
    ** Says arrears and impaired loans as a percentage of gross
loans flattened at FY-end
    ** Reiterates FY25 target of 15% growth in profit before tax
    ** JDO among top gainers on ASX 200 benchmark index  .AXJO 
    ** As of last close, stock up 38.5% YTD

($1 = 1.4870 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))