Australia's OFX Group falls most in 3 years on revised earnings forecast

OFX

23/03/2023 01:00

** Shares of OFX Group  OFX.AX  slump as much as 11% to
A$1.585, posting their biggest intraday pct fall since March 23,
2020
    ** International payment services provider says it expects
to deliver EBITDA of A$62 mln ($41.56 mln) in FY23, the lower
end of its previous guidance
    ** In November, co had forecast FY23 EBITDA of A$62 mln-A$67
mln
    ** Says expects to deliver FY23 net operating income of
A$214 mln 
    ** Shares hit their lowest level since Oct 29, 2021
    ** Volumes are 3.1x the 30-day average of 260,198 shares
    ** Stock had fallen 25.2% YTD, as of last close

($1 = 1.4919 Australian dollars)

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