Australia's Althea Group soars most in 9 months on operating profit forecast

Peak Processing

12/04/2023 03:53

** Shares of cannabis-based pharma co Althea Group Holdings
 AGH.AX  rise as much as 26.7% to A$0.057, posting their biggest
intraday pct gain since July 15, 2022
    ** AGH hits highest level since Feb. 6
    ** Co says it expects an operating profit for the final
quarter of the financial year; co had reported a loss for the
half year ended Dec 31
    ** Co also expects "substantially improved" cash flow
position at financial year-end 
    ** March saw A$1.5 mln ($998,250.00) positive cash flow,
helping it achieve its first ever monthly operating profit
    ** Trading volumes nearly 8 times the 30-day average 
    ** As of last close, AGH down 26.2% this year

($1 = 1.5026 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))