Australia's United Malt sees worst session in over 10 weeks on FY21 results

United Malt

17/11/2021 24:58

** Shares of United Malt Group Ltd  UMG.AX  fall as much as
3.6% to A$3.980, mark their worst session since Sept 2
    ** The commercial maltster reports FY underlying net profit
after tax of A$34 mln ($24.77 mln), compared with A$57.4 mln
last year, on COVID-related supply chain disruptions
 urn:newsml:reuters.com:*:nASXc5TNBb
    ** Also reports 4% decrease in FY revenue to A$1.2 bln
year-on-year 
    ** Co, however, expects continued recovery in on-premise
consumption in the North American market
    ** Stock hits its lowest level since Oct 29
    ** Stock up 0.7% this year, as of last close
    
    ($1 = 1.3725 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))