Australia's Zip hits over 2-1/2-month high on upbeat FY24 forecast

Zip Co

09/11/2023 01:25

** Shares of Zip Co Ltd  ZIP.AX  rise as much as 7.6% to
A$0.425, their highest level since Aug. 15 
    ** Financial services co expects to achieve positive group
cash EBTDA for 2H24 and FY24
    ** Co expect reduction in cash operating costs in FY24
    ** Co sees increased revenue margin from new products in
FY24
    ** About 8.9 mln shares change hand compared to 30-day
average trading volume of 5.3 mln shares 
    ** Stock down 22.6% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))