Australia's Plenti Group eyes best day in 8 months on lifting profit forecast

Plenti

23/03/2022 24:42

** Shares of Plenti Group  PLT.AX  climb as much as 16.6% to
A$1.055, set for their best day since July 13, if gains hold
    ** Fintech firm raises cash profit forecast for six months
ending March 31 to A$2.2 million ($1.64 million) from A$1
million  urn:newsml:reuters.com:*:nFWN2VP10F
    ** Co says expected increase in profit is occurring as its
loan book expands slightly more quickly than it expected
    ** Says it is well placed to continue its growth into the
next financial year, as co moves to a positive cash NPAT
position, combined with attractive corporate debt facility 
    ** Stock hits the highest since March 3
    ** PLT down 30.4% YTD, as of last close 

($1 = 1.3408 Australian dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))