Australia's Step One Clothing hits more than 21-month high on HY24 forecast

Step One Clothing

18/12/2023 24:48

** Shares of Step One Clothing  STP.AX  jump as much as
16.7% to A$1.050, hitting their highest since March 1, 2022 
    ** Online retailer of innerwear expects 1H FY24 operating
profit to be between A$10 mln and A$11 mln ($6.70 mln-$7.37
mln), vs A$7.5 mln reported in 1H FY23 
    ** Also forecasts 1H FY24 revenue between A$44 mln and A$45
mln, representing y/y growth between 22% and 25% 
    ** Shares set for best session since Aug 25 - if gains hold 
    ** Stock had more than trebled in value, as of last close

($1 = 1.4916 Australian dollars)

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