Australia's Premier Investments rises most in two months on Citi estimate beat

Premier Investments

19/03/2026 23:59

** Shares of Australia's Premier Investments PMV.AX rise as much as 8.2% to A$13.55, hitting their biggest intraday pct gain since January 22

** Stock touches its highest level since February 27

** The stationary brand posts interim dividend of 45 AU cents per share, ahead of Citi's 42 AU cents estimate

** Brokerage says co's 1H26 gross margin at 66.9% slightly better than its 66.7% estimate, aided by strong cost control schemes

** Flags appointment of Georgia Chewing as managing director of Smiggle segment as "encouraging"

** Co also expects retail FY26 underlying earnings before interest and taxes (EBIT) to be about A$183 million ($129.62 million), in line with brokerage's estimates

** Stock is the top gainer on S&P/ASX 200 index .AXJO, which is down 0.3%

** Stock up 7.8% so far this week, set for its best week in nearly a year, if current trend holds

** Despite moves, PMV down 2.6% YTD

($1 = 1.4118 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))