Australia's OFX Group eyes best day in 7-1/2 years on upbeat FY results, Paytron buyout

OFX

23/05/2023 01:52

** Shares of OFX Group Ltd  OFX.AX  jump as much as 24.4% to
A$1.915, posting their biggest intraday pct gain since Nov 19,
2015
    ** International payment services provider posts 26% jump in
FY statutory net profit attributable to A$31.4 mln ($21.30 mln)
    ** Says FY revenue from ordinary activities up 44% to
A$228.9 mln
    ** Co to acquire Sydney-based B2B payments firm Paytron
    ** Says investment for acquisition will be about A$6 mln in
the first year and dynamic cash funding thereafter 
    ** Sees FY24 underlying EBITDA to be between A$63 mln and
A$74 mln, excluding Paytron, vs earlier guidance of A$62 mln to
A$67 mln
    ** Shares hit their highest level since March 17 and on
track for a third consecutive session of gain 
    ** OFX stock down 35.3% YTD, as of last close 

($1 = 1.4743 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))