Australia's OFX Group hits over 6-year high on strong HY results, forecast upgrade

OFX

07/11/2022 23:42

** Shares of OFX Group  OFX.AX  jump as much as 5.1% to
A$2.82, hitting a more than six-year high
    ** The international payments service provider reported a
52% jump in its HY revenue to A$112.7 million ($72.97 million),
driven by its Corporate segment  urn:newsml:reuters.com:*:nFWN3239OO
    ** Also posts HY net profit attributable of A$14.7 million,
up 35% from the previous year     
    ** Due to strong transaction volumes, co upgrades FY23 net
operating income forecast to between A$215 mln and A$222 mln and
an FY underlying earnings before interest, tax, depreciation and
amortisation in the range of A$62 mln to A$67 mln  
    ** OFX shares see best day since Sept. 5 - if gains hold 
    ** Stock has fallen ~19.1% this year, as of last close
($1 = 1.5444 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))