Australia's Pacific Currents Group falls most in 8 weeks on weak results

Pacific Current

26/08/2022 06:25

** Shares of asset management firm Pacific Currents Group
 PAC.AX  fall as much as 6.2% to A$8.35, their worst session
since July 1
    ** PAC says net loss attributable A$35.3 mln ($24.57 mln) vs
profit A$17.4 mln  urn:newsml:reuters.com:*:nASX7NFyKc
    ** Revenue from ordinary activities fell 6% to A$44.2 mln in
FY22
    ** Co declared a final fully franked dividend of 23 AU cents
per share, down from the 26 AU cents per share announced for
FY21
    ** Shares hit their lowest since Aug. 11
    ** Stock notches its fourth straight day of losses; eyeing
worst week since June 17
    ** More than 149,000 shares change hands, compared with the
30-day average volume of about 53,000 shares(if more than 1.0
times)
    ** Stock up ~21.75% this year as of last close


($1 = 1.4368 Australian dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))