Australia's Apollo Tourism jumps on outlook update, progress in Tourism Holdings merger

Tourism Holdings

18/10/2022 04:03

** Shares of Apollo Tourism & Leisure  ATL.AX  rise as much
as 6.5% to A$0.9, their highest since April 2019
    ** The Australian tourism co updates its FY23 outlook 
 urn:newsml:reuters.com:*:nASX6zYvNc
    ** Says it is currently anticipating record level of
underlying net profit after tax (on a standalone basis) in FY23
of above A$20 mln ($12.57 mln)
    ** Co adds rental revenue exceeded internal targets in Q1
FY23 in every region due to strong yields
    ** Co says its merger of Tourism Holdings  THL.NZ , which
remains subject to conditions, is progressing; the companies are
awaiting approval of the Supreme Court of Queensland
    ** THL shares down as much as 2.9%, their biggest intraday
fall since Sept 14
    ** Apollo stock up 35.2% this year, as of last close
    ($1 = 1.5913 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))