NZ's Warehouse Group hits near 1-yr high as co upgrades HY profit outlook

Warehouse

08/01/2021 03:13

** Shares of Warehouse Group Ltd  WHS.NZ  rise as much as
1.8% to NZ$2.80, their highest since Jan 24, 2020
    ** The retail group upgrades HY adjusted net profit after
tax outlook to NZ$90 mln ($65.30 mln) from NZ$70 mln
 urn:newsml:reuters.com:*:nFWN2JI0LW
    ** Warehouse maintains gross margin growth forecast of about
170 basis points for HY
    ** Co says it updated HY outlook owing to strong trading
through week leading up to Christmas and over Boxing Day & New
Year period, and given revised expectations for trading in Jan
    ** Stock posts biggest intraday pct gain since Dec 22
    ** Over 279,419 shares change hands, more than 4 times the
30-day average volume 
    **  Stock up 2.2% this week, as of last close

    ($1 = 1.3784 New Zealand dollars)

 (Reporting by Riya Sharma in Bengaluru)
 ((Riya.Sharma@thomsonreuters.com;))