Australia's Plenti notches over 5-week high on strong quarter

Plenti

12/10/2021 02:30

** Shares of Plenti Group  PLT.AX  rise as much as 10.9% to
A$1.53, their biggest intraday pct gain since July 13 
    ** Stock touches its highest level since Sept. 3
    ** The consumer finance provider posts quarterly loan
originations of A$256.4 mln ($188.15 mln), up 140% from prior
year  urn:newsml:reuters.com:*:nASX4r9JGg
    ** Expects to achieve a A$1 bln loan portfolio by the end of
December 2021, from a prior target of March 2022
    ** Sees positive monthly cash net profit after tax (NPAT) by
December 2021 from a prior date of June 2022; continues to
target a cost-to-income ratio of below 35% over the medium term
    ** About 234,000 shares change hands, compared with the
30-day average volume of 48,000 shares
    ** Stock up 14.1% this year, as of last close


($1 = 1.3628 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))