Australia's Redcape Hotel gains on strong FY21 earnings outlook

Pecos Hotels and Pubs

13/05/2021 02:19

** Shares of pubs and hotels operator Redcape Hotel Group
 RDC.AX  rise as much as 5.1% to A$1.03
    ** Co upgrades its FY21 underlying earnings to 10.2 cents
per share from 9.7 cents per share for FY21  urn:newsml:reuters.com:*:nASX4k8Xl0
    ** Redcape also increases FY distribution to 8.16 cents per
share, up 11% from previous forecast
    ** Stock post its biggest intraday percentage gain since
March 19
    ** About 4200,000 shares change hands, compared with the
30-day average volume of about 336,000 shares
    ** RDC up 6.5% this year, as of last close      

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))