SHAPE Australia hits record high on FY24 profit forecast

SHAPE Australia

02/07/2024 02:00

** Shares of SHAPE Australia  SHA.AX  rise as much as 4% to
a record high of A$2.37
    ** Construction co says it currently sees FY24 net profit
after tax between A$15 mln ($9.98 mln) and A$16 mln, a 40% rise
from previous corresponding period   
    ** However, FY24 revenue is expected to be A$830 mln, down
from A$862.4 mln last year due to delays in starting some
projects
    ** Shares set to see best day since June 14, if trend holds 
    ** Stock had risen ~28.1% this year, as of last close

($1 = 1.5038 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))