Australia's NextEd Group slumps most in nearly 3 yrs as outlook misses estimates

Nexted

10/07/2023 03:48

** Shares of vocational training provider NextEd Group
 NXD.AX  slide as much as 16.3% to A$1.21, marking their biggest
intraday pct fall since Oct. 7, 2020 
    ** NXD expects to post FY23 revenue of A$102 mln to A$103
mln ($68.11 mln - $68.77 mln), more than double from a year
earlier, but missing Refintiv Eikon estimate of A$107.6 mln
    ** NXD expects to post FY23 EBITDA of A$16.5 mln to A$17
mln, lower than estimate of A$18 mln
    ** Stock hits lowest level since Jan. 31
    ** Stock tops losses on the ASX All Ordinaries Index  .AORD 
    ** More than 830,000 shares change hands, vs the 30-day
average volume of ~539,000 shares
    ** Stock up 26.8% YTD as of last close
    
($1 = 1.4977 Australian dollars)
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))