Australian property exchange firm PEXA hits record low on sector headwinds

PEXA

28/08/2026 01:31

** Shares of PEXA Group PXA.AX fall 19.5% to a record low of A$6.510
** PXA, which operates a digital property exchange business, top loser in the ASX200 benchmark index .AXJO, which is up 0.3% in early trading
** Stock posts its biggest intraday pct drop since July 3
** Co says uncertain economic environment in Australia is expected to dampen property transaction volumes, which will hurt margins and revenue
** In July, PXA said a draft proposal to cut transaction fees in New South Wales would reduce its annual revenue by A$70 million
** PXA forecast FY27 group NPAT between A$5 million ($3.60 million) and A$20 million, compared with A$26.3 million reported for FY26
** FY27 revenue forecast between A$385 million and A$415 million, vs FY26 revenue of A$406.9 million
** More than 1 million shares change hands by 0023 GMT, twice the 30-day average of about 553,500 shares
** PXA down ~52% this year, including the day's move


($1 = 1.3897 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))