Australia's Silk logistics jumps on strong forecast, results

Silk Logistics Holdings

24/02/2022 04:07

** Shares of Silk Logistics Holdings Ltd  SLH.AX  jump as
much as 7.6% to A$2.280, their highest since Dec. 3
    ** Logistics co upgrades full-year 2022 underlying EBIT
estimate to a range of A$25 mln-A$26 mln ($17.96 mln-$18.68 mln)
from prospectus guidance of A$20.9 mln  urn:newsml:reuters.com:*:nFWN2UY1L5
    ** Says upgrade to reflect latest forecast volumes and
earnings contribution from the recently acquired 101Warehousing 
    ** Co reports HY revenue of A$182.5 mln, up 18.5% from the
prior corresponding period
    ** Underlying NPAT A$7.4 mln, an increase of about 51%
    ** Stock set for best session since Dec. 21 if gains hold,
up for a second straight day
    ** Nearly 132,900 shares change hands, 2.7 times the 30-day
average volume of 49,410 shares 
    ** Stock down about 4.1% this year, as of last close 

($1 = 1.3920 Australian dollars)

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