Australia's Qube soars most in nearly 3 years after strong profit, outlook

Qube Holdings

23/02/2023 24:12

** Shares of Qube Holdings Ltd  QUB.AX  jump as much as
11.4% to A$3.33 in their best intraday pct gain since May 2020
    ** QUB second-biggest pct gainer in the ASX 200 benchmark
index  .AXJO , which is down 0.2% as of 2348 GMT
    ** Logistics services co logs HY underlying earnings of
A$132.6 mln ($90.29 mln), up 37% from a year ago, on the back of
a 23% jump in underlying revenue to A$1.50 bln
    ** Declares interim dividend of 3.75 Australian cents per
share, 25% higher than a year ago
    ** Expects strong growth in underlying earnings in FY23
    ** Co, however, expects 2H23 underlying earnings to be below
1H23 on lower contribution from Operating Division on potential
moderation in imported container volumes, severe weather
condition in New Zealand
    ** QUB at its highest since Dec. 15; up 6.4% this year, as
of last close, vs a 3.9% increase in the ASX 200 benchmark index
($1 = 1.4686 Australian dollars)
 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))