Australia's Althea Group surges on upbeat forecasts

Peak Processing

05/06/2024 02:12

** Shares of Althea Group  AGH.AX  rise as much as 33.33% to
A$0.036, their highest level since late-Feb
    ** Cannabis products maker forecasts strong growth for H2
FY24 and beyond
    ** Expects FY25 revenue of A$50 mln ($33.3 mln) to A$60 mln
    ** Adds, sees FY25 EBITDA OF A$4 mln TO A$7 mln
    ** About 7.7 mln shares changed hands by 0101 GMT, 15 times
the 30-day average and its highest since Oct. 25, 2019
    ** Stock has fallen 30.77% this year, as of last close


($1 = 1.5040 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))