NZ's Radius Residential Care rises on upbeat H1 outlook

Radius Residential Care

13/09/2023 03:35

** Shares of Radius Residential Care  RAD.NZ  rise as much
as 14.7% to NZ$0.180, their biggest intraday pct gain on record
    ** The specialised aged-care services provider sees H1 FY24 
pre-NZ IFRS16 EBITDA in the range of NZ$9.8 mln to NZ$10.5 mln
($5.78 mln-$6.19 mln), a 40-50% uplift from 1H FY23
    ** Says uplift in EBITDA due to continued strong occupancy
and successful execution of business improvement programme,
among others 
    ** Co says it continues to make progress on selected asset
divestments to reduce debt
    ** Shares hit their highest level since Sept 4, and on track
to record a second consecutive session of gains, if trend holds
    ** Radius stock down ~43% YTD, as of last close 
    
     ($1 = 1.6961 New Zealand dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))