Australia's Supply Network gains on higher dividend, upbeat FY profit forecast

Supply Network

26/07/2024 06:32

** Shares of Supply Network  SNL.AX  rise as much as 7% to
A$23.55, their highest level since June 4
    ** Shares on track for their best day since May 27, if gains
hold
    ** The after-market vehicle parts seller declares a final
fully franked dividend of 33.0 AU cents per share, an increase
of 5.0 AU cents on last year's final dividend
    ** Co forecasts FY profit after tax to be around A$33.1 mln
($21.69 mln), compared with previous estimate of A$32 mln
    ** Co posts FY consolidated revenue of A$302.6 mln, compared
with A$252.3 mln from a year earlier
    ** About 25,100 shares change hands, 1.8 times the 30-day
average volume of shares
    ** Stock has risen 34.4% this year, as of last close

   ($1 = 1.5263 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))