Australia's National Tyre & Wheel falls on disappointing profit view for H1

NTAW Holdings

23/12/2022 24:44

** Shares of motor vehicle tyre company National Tyre &
Wheel Ltd  NTD.AX  fall as much as 14.1% to A$0.550 — hitting
their lowest level since August 2020 
    ** Says it expects operating net profit after tax before
acquisition-related expenses (NPATA) for the first half of FY23
to range from A$1 mln to A$2 mln ($667,200.00 to $1.33 mln),
compared with A$8 mln reported a year earlier  urn:newsml:reuters.com:*:nASXbYZp87
    ** Says 1H23 revenue will be between A$290 mln and A$300
mln, compared with A$251 mln a year ago 
    ** Stock on track for biggest intraday percentage loss since
Oct. 26 
    ** Stock down 55% this year, as of last close 
($1 = 1.4988 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))