Australia's United Malt Group rises on production ramp up at Scotland facility

United Malt

23/03/2023 01:03

** Shares of commercial maltster United Malt Group  UMG.AX 
rise as much as 5.5% to A$3.440, their highest since March 9
    ** Stock set for its best day since Feb 10, if gains hold
    ** Co announces commencement of commissioning at its new
Inverness malting facility in Scotland
    ** Says it produced the first batch of malt as part of the
commissioning earlier this month and it was "high quality,
commercial grade malt"
    ** Adds it expects the plant to ramp up to reach full
production capacity in April
    ** United Malt stock among top gainers in the benchmark ASX
200 index  .AXJO 
    ** As of last close, stock down 6.1% this year

    

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))