Australia's Shaver Shop Group hits record high on H1 profit view

Shaver Shop

11/01/2021 01:35

** Shares of Shaver Shop Group  SSG.AX  rise as much as
17.9% to record high of A$1.25
    ** The personal grooming products retailer expects H1 FY21
net profit after tax to rise to A$13.5 mln-A$14.0 mln ($10.4
mln-$10.8 mln) from A$7.6 mln a year earlier  urn:newsml:reuters.com:*:nASX7K16NH
    ** Across H1 FY2021, gross profit margin expected to
increase by over 200 basis points - SSG 
    ** Co attributes increase to deliberate decisions to balance
volume growth & profit margins especially on Black Friday,
Christmas and Boxing Day 
    ** Says on track to deliver another record full-year profit
    ** Stock posts biggest intraday pct gain since May 14, 2020
    ** More than 600,000 shares change hands vs the 30-day
average volume of 141,687 shares
    ** Stock climbed 63.1% in 2020
    
($1 = 1.2965 Australian dollars)

 (Reporting by Ananya Pande in Bengaluru)
 ((ananya.pande@thomsonreuters.com))