Australia's OFX Group set for worst session ever on bleak earnings forecast

OFX

17/10/2024 03:49

** OFX Group  OFX.AX  plunges 47.4% to A$1.2; set for their
biggest ever intraday pct drop
    ** Stock at it lowest level since May 5, 2021
    ** International payments services provider expects to
deliver underlying EBITDA of A$29 mln ($19.4 mln) for H1 FY25 vs
A$31.8 mln a year ago
    ** Sees HY net operating income (NOI) of A$111 mln, slightly
lower than year-ago A$111.5 mln
    ** Says expectation of lower NOI in HY will result in lower
NOI growth for FY25, below the 10% indicated in its FY24 results
    ** About 9.3 mln shares traded in stock's busiest day since
May 22
    ** YTD, stock largely flat
 
($1 = A$1.4941)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))