Australia's PEXA hits 9-month low on flagging higher impairments

PEXA

05/02/2025 23:48

** Shares of PEXA Group  PXA.AX  fall 5.8% to A$12.09, their
lowest level since May 1, 2024
    ** Digital property settlements platform raises its fiscal
2025 first half impairment loss forecast range
    ** Co now sees first half impairment loss of A$35 million 
($22.00 million) to A$40 million, up from A$15 million to A$20
million forecast earlier
    ** Co also says Les Vance, CEO of its Australia unit, has
resigned
    ** PXA top loser on the S&P/ASX 200 index  .AXJO 
    ** Stock fell as much as 9.8% earlier in the day, marking
its worst intraday drop since Dec. 20, 2023
    ** Stock down 7.4% this year, including the day's move


($1 = 1.5911 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))