Australia's National Tyre & Wheel eyes best day in over 2 years on distribution deal

NTAW Holdings

20/09/2023 04:19

** Shares of National Tyre & Wheel  NTD.AX  up 15.5% at
A$0.82 - set for best day since June 2021, if gains hold
    ** Tire and wheel distributor says it signed agreements to
distribute Dunlop consumer and commercial tyres in Australia and
New Zealand
    ** Co says additional annualised group revenue across
Australia and New Zealand is estimated to be A$118 mln ($76.13
mln)
    ** NTD expects Dunlop tyres to be distributed with a modest
increase in fixed costs
    ** NTD shares at their highest level since September 2022
    ** Stock up 31.5% YTD, as of last close 

($1 = 1.5499 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))