Australia's OFX Group hits over 2-yr low on trimming FY24 profit forecast

OFX

14/11/2023 01:02

** Shares of OFX Group  OFX.AX  slide as much as 11.4%,
their lowest level since July 8, 2021
    ** Stock set for sharpest intraday drop since March 23  
    ** Payment services provider says it expects EBITDA of
between A$63-70 million ($40.19-44.65 million) for FY24 
    ** That compares with co's previous forecast of A$63-70
million provided on May 23
    ** OFX posts HY statutory net profit after tax for HY of
A$15.8 mln, up 5%, while expecting a stronger second-half vs
1H24
    ** More than 1 mln shares change hands, 4x vs the 30-day
average volume 
    ** Stock down 35.7% this year as of last close



($1 = 1.5676 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))