Australia's Paragon Care tracks best day in 14 months on strong outlook

Paragon Care

26/07/2022 04:44

** Shares of medical equipment provider Paragon Care Ltd
 PGC.AX  rise as much as 12.5% to A$0.315, post their biggest
intraday pct jump since May 27, 2021
    ** Co says it expects FY22 underlying EBITDA of about A$30
mln ($20.91 mln), up 20% from a year ago on boost from merger
with Quantum Health Group (https://bit.ly/3OuP3CJ)
 
    ** PGC merged with Quantum Health in mid-February in an
all-stock deal valuing it at A$83.6 mln (https://bit.ly/3S1hrQ8)
 (https://bit.ly/3vDkK6z)
    ** Co says improved net debt position gives co strong
platform for growth moving forward into FY23
    ** Says net debt position down to about A$50 mln at FY22-end
from A$69 mln in FY21 
    ** More than 572,000 shares change hands, vs the 30-day
average volume of 211,044 shares
    ** Stocks down 22.2% this year, as of last close

($1 = 1.4345 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((rishav.chatterjee@thomsonreuters.com))