Australia's Pro-Pac Packaging set for worst day in 4 wks as Q2 revenue falls

Pro-Pac Packaging

27/01/2023 02:15

** Shares of Australia's Pro-Pac Packaging  PPG.AX  fall as
much as 2.9% to A$0.340, set to mark worst day since Dec.30,
2022, if losses hold 
    ** Stock hits lowest since Jan. 18  
    ** The packaging products maker posts Q2 FY23 total revenue
of A$91.5 mln  ($65.14 mln) vs A$94.0 mln in the previous
quarter 
    ** Co expects operating cash flows to return to a more
normal operating level next quarter  
    ** PPG has risen 6.1% this year, as of last close while
slumping 67.7% in 2022 
    ($1 = 1.4047 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))