Australia's RPM Automotive gains most in 3-weeks on HY results

Rpm Automotive

24/01/2024 02:25

** Shares of RPM Automotive Group  RPM.AX  rise nearly 6% to
A$0.090 in heavy volumes
    ** Stock also records its biggest intraday pct gain since
Jan. 2
    ** Auto parts dealer reports 4% rise in Q2 revenue, to A$29
mln ($19 mln), with H1 EBITDA surging 37.2% to A$5.9 mln
    ** RPM expects FY revenue to exceed A$130 mln and EBITDA in
the range of A$11-A$13 mln, with margins similar to H1 levels
    ** About 1.2 mln shares traded by 0210 GMT, well over 30-day
avg of ~98k and marking stock's busiest day since late May 2023
    ** Stock now up 4.5% so far in 2024; it fell ~46% in 2023
 
 ($1 = 1.5207 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))