Australia's Super Retail hits record high as H1 forecast beats consensus estimates

SUPER RETAIL

14/01/2024 23:33

(Updates)
    ** Shares of Australia's Super Retail Group  SUL.AX  rise as
much as 6% to hit a record high of A$16.8 
    ** The retailer eyes first-half revenue of A$2 bln ($1.34
bln), which beats Visible Alpha consensus by 2%
    ** Sees H1 FY24 profit before tax of A$200 mln to A$203 mln,
beating consensus expectations by 17%
    ** Says gross margin percentage for H1 FY24 is expected to
be higher than H1 FY23
    ** Group had no drawn bank debt and a positive cash balance
at the end of the first half 
    ** Stock set for best intraday jump since Aug. 17, if gains
hold
    ** Stock has fallen 1.2% in the past month 

($1 = 1.4959 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Jamie
Freed)
 ((Rishav.Chatterjee@thomsonreuters.com;))