Australia's Solvar set for worst day in 6 months as annual profit slumps

Solvar

20/08/2024 03:53

** Shares of Solvar Ltd  SVR.AX  fall 11.5% to A$1.08, set
for their worst day since Feb. 21, if losses hold
    ** Consumer lender posts A$29 mln ($19.48 mln) net profit
attributable in FY, 40% lower than in pcp 
    ** Co declares final dividend of 5 AU cents, in-line with
last year's payout
    ** About 713,000 shares change hands, compared with the
30-day average volume of 308,000
    ** Stock down 7.6% YTD, as of last close
 


($1 = 1.4890 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))