Australia's Probiotec rises on upbeat earnings outlook

Probiotec

09/06/2021 01:46

** Probiotec Ltd  PBP.AX  rises as much as 10.8% to A$2.160,
hitting its highest since April 23
    ** The pharma company says based on strong trading and an
accretive acquisition, it expects FY21 revenue at between A$118
mln ($91.36 mln) and A$122 mln, against A$107 mln it earned in
FY20  urn:newsml:reuters.com:*:nASN001ANR
    ** Co expects underlying core earnings at between A$21 mln
and A$22 mln vs last year's A$16.9 mln
    ** PBP says pharmaceutical product categories affected by
response to COVID-19 expected to improve progressively through
H1 of FY22 and normalise through H2, with demand already
returning strongly
    ** Stock posts its biggest intraday percentage gain since
March 22
    ** More than 250,000 shares change hands, compared with the
30-day average volume of about 34,000
    ** Stock down 18.8% this year, as of last close

    ($1 = 1.2917 Australian dollars)

 (Reporting by Rashmi Ashok in Bengaluru)
 ((Rashmi.Ashok@thomsonreuters.com; +918061822604;))