BUZZ-Australia's MLG Oz tumbles on narrowing HY profit

Reuters
02-18
BUZZ-Australia's MLG Oz tumbles on narrowing HY profit

** Shares of MLG Oz MLG.AX fall 12.3% to A$0.605

** Stock fell as much as 19.6% to A$0.555 in early trade, its largest intraday pct drop since early June 2021

** Mining services provider posts net profit of A$4.1 million for HY2025, down 42.7% from A$7.1 mln logged a year ago

** Attributes lower profit to lower revenue in crushing and screening business, reducing overall profit margins

** Adds capex to slow over second half of fiscal 2025

** About 1.3 mln shares change hands, 8.3 times the 30-day avg

** Stock up 10% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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