Australia's Solvar rises after posting jump in FY revenue

Solvar

15/08/2023 04:13

** Shares of Australia's Solvar  SVR.AX  rise as much as
6.9% to A$1.19, highest since August 3
    ** Says FY23 revenue rises 11.4% to A$209.3 mln ($135.9
million), but missed estimates of A$212.3 mln - Refinitiv data 
    ** Co raises final dividend 28.6% to A$9.0 cents per share 
    ** Says loan book expected to exceed A$1 bln in FY24,
anticipates bad debt within target range of 3.5%-4.5%
    ** Stock has fallen 36.89% so far this year, as of last
close


($1 = 1.5404 Australian dollars)

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
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