Australia's Region Re falls on swinging to first-half loss

Region Re

07/02/2023 05:02

** Shares of Region Re Ltd  RGN.AX  fall as much as 3.6% to
A$2.67, their lowest since Jan. 24
    ** REIT posts HY attributable loss from ordinary activities
of A$95.1 mln ($66 mln) vs profit of A$432.4 mln yr-ago
    ** Revenue from ordinary activities up 9.3% to A$188.8 mln
    ** Says it expects higher interest rates to hurt earnings
    ** Stock seeing their worst day since Jan. 6 and set to
erase their gains of 2.2% this year as of last close
 
 ($1 = A$1.4418)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))