Australia's PWR Holdings falls on higher HY operating expenses

PWR Holdings

17/02/2023 04:53

** Shares of PWR Holdings Ltd  PWH.AX  fall as much as 17.4%
to A$10.11
    ** Co eyes worst intraday loss ever, if trend holds
    ** Motorsports solution provider said on Thursday after
market close that EBITDA (earnings before interest taxes
depreciation and amortisation) margin for first half of 2023
fell to 27.5%, from 31.2% a year ago
    ** Co says fall in EBITDA margin due to increased operating
expenses from changes to product sales mix, increased headcount
and labour rates
    ** PWH posted a marginal growth of 3.8% in its HY net profit
after tax
    ** About 1.4 mln shares change hands, vs the 30-day average
volume of 203,400 shares
    ** Co hits its lowest level since Dec. 22, 2022
    ** Fall in stock wipes out 14% YTD gains, down 3.25% this
year
 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))