RPM Automotive gains most in over 8 weeks on upbeat HY results, forecasts

Rpm Automotive

28/02/2024 02:14

** Shares of Australia's RPM Automotive Group  RPM.AX  rise
as much as 11.3% to A$0.089, marking their biggest intraday gain
since Jan. 2
    ** Stock at its highest level since Feb. 2
    ** Auto parts dealer posts HY net profit after tax of A$2.2
mln ($1.44 mln) vs A$1.2 mln
    ** Adds HY revenue of A$56.9 mln, up 2.2% YoY
    ** Says expects a stronger H2 FY24 with group revenue to
exceed A$130 mln in FY24
    ** Adds expects FY24 EBITDA to be in range of A$11 mln to
A$13 mln
    ** About 489,103 shares change hands as of 0206 GMT, vs the
30-day average volume of 162,809 shares
    ** Stock down ~7% YTD as of last close

($1 = 1.5300 Australian dollars)

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