Australia's Perenti set for best day in 5 weeks on robust outlook

Perenti

06/06/2023 02:25

** Shares of Perenti Ltd  PRN.AX  jump as much as 5.6% to
A$1.235, on track for best day since May 1, if gains hold
    ** Co sees FY24 capital expenditure slightly higher than
FY23 
    ** Raises FY23 EBIT(A) forecast to A$250-265 mln from
A$230-250 mln 
    ** Updates FY25 revenue target to A$3.0 bln ($1.98 bln), up
from A$2.5 bln expected earlier
    ** Stock posts its biggest intraday pct gain since May 11
    ** Stock down 11% this year, as of last close


     ($1 = 1.5122 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))