Australia's Orora tops losses on ASX 200 on lower FY earnings forecast

Orora

02/04/2024 01:34

** Shares of packaging company Orora Ltd  ORA.AX  fall as
much as 16.2% to A$2.280 - their lowest since Jan. 28, 2021
    ** Stock last down 12.9%, set for worst day since Aug. 15,
2019, if losses hold
    ** Co sees FY24 group EBIT, excluding contribution from
Saverglass, between A$307 mln ($199.12 mln) and A$317 mln,
compared with A$320.5 mln in FY23
    ** Says North America ops continued to face volume softness
in March qtr and consequently sees 2H24 revenue down 3% 
    ** ORA top loser on ASX 200 benchmark index  .AXJO 
    ** As of last close, stock up 4.6 this year


($1 = 1.5418 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))