Australia's RPM Automotive rises on strong 9-month results

Rpm Automotive

25/05/2023 02:14

** Shares of RPM Automotive Group  RPM.AX  rise as much as
12.4% to A$0.10, set for best day since Nov 2022, if gains hold
    ** The auto parts dealer says its sales revenue for 9 months
rose 55% to A$88.1 mln ($59.76 mln) 
    ** Says 9-month EBITDA was up 43% at A$7.6 mln
    ** Co adds better gross profit margins and strong demand for
product range expected to continue in FY24
    ** RPM stock at its highest level since May 3
    ** Stock down 44.4% YTD, as of last close
 
    ($1 = 1.4743 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))