Australia's Pental at one-month low on buying e-commerce gifts firm

Noel Gifts International

20/08/2021 05:53

** Personal care and home products maker Pental Ltd  PTL.AX 
falls as much as 3.4% to A$0.425, its lowest since July 20 
    ** PTL reverses course after advancing up to 11.4% to A$0.49
earlier in the day — highest since September 2020
    ** Enters https://pental.com.au/wp-content/uploads/2021/08/ASX-Announcement.pdf
 deal to buy Melbourne-based e-commerce gifting firm Hampers
with Bite Pty for a proposed maximum consideration of A$28.3 mln
($20.22 mln)
    ** Says acquisition expected to be immediately earnings
accretive; sees estimated combined group FY21 pro-forma
underlying EBITDA of A$17.1 mln
    ** Deal allows PTL to diversify its sales channels and
fast-track existing e-commerce operations
    ** PTL marks its biggest intraday pct fall since July 19
    ** Down marginally this year, as of last close

($1 = 1.3994 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))