Australia's Solvar falls most in over 4 months on bleak outlook

Solvar

03/08/2023 02:07

** Shares of Australia's Solvar  SVR.AX  fall as much as
27.2% to A$1.270, their worst intraday pct fall since March 19 
    ** Stock hits lowest since April 28 
    ** The finance firm says co's FY24 net profit after tax
(NPAT) will be affected by full-year cost of central banks rate
hike cycle
    ** Says group anticipates a full-year normalised NPAT of
A$24 mln ($15.68 mln)- A$30 mln, lower than the current year
NPAT of A$47.6 mln    
    ** Adds FY24 EBITDA is expected to remain consistent with
FY23
    ** Stock down 4.6% this year, as of last close

    ($1 = 1.5307 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))