BUZZ-Australia's Resimac Group plunges on weak HY profit, forecast

Reuters
02-18
BUZZ-Australia's Resimac Group plunges on weak HY profit, forecast

** Shares of Resimac Group RMC.AX fall 12.6% to A$0.905

** Stock fell as much as 18.4% earlier in the day, their biggest intraday drop since mid-March, 2020

** Non-bank lender reports HY normalized NPAT of A$15 million ($9.53 million), down 12.3% compared to previous year

** Says it is probable that group will not meet NPAT consensus for FY25, based on recent experience with arrears, net write-offs

** RMC stock top loser on ASX All Ordinaries index .AORD

** Stock down 9.7% YTD, including current session's moves

($1 = 1.5741 Australian dollars)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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