Australia's Baby Bunting soars nearly 17%, outlook largely as expected

Trade School Go

20/08/2024 02:16

** Shares of Australia's Baby Bunting  BBN.AX  jump as much
as 16.7% to A$1.780, their highest level since May 8
    ** Stock of baby goods retailer among top gainers in the ASX
All Ordinaries index  .AORD ; up for an eighth straight session 
    ** Marks its biggest intraday pct gain since June 27
    ** More than 750,000 shares change hands, vs the 30-day
average of ~300,000 shares
    ** Co says it expects FY25 adjusted NPAT between A$9.5 mln
($6.39 mln) and A$12.5 mln, VA consensus is A$11.4 mln
    ** FY24 adjusted NPAT of A$3.7 mln meets VA consensus
    ** Co says on track to achieve 40% gross profit margin
target in FY25 vs 36.8% in FY24
    ** Says July gross profit margin up 180 basis points
    ** Macquarie analysts say risks remain to margin targets
given weakness in FY24 gross margins
    ** BBN down 23.8% this year, as of last close

($1 = 1.4870 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))