Australia's National Tyre & Wheel hits 1-1/2-year low as annual profit drops

NTAW Holdings

31/08/2022 04:49

** Shares of National Tyre & Wheel  NTD.AX  fall as much as
12.4% to A$0.81, their lowest since March 31, 2021
    ** Shares of the motor vehicle tyre company mark their
biggest intraday pct fall since July 27 
    ** Co reports FY22 net profit from ordinary activities
attributable of A$9.4 mln ($6.46 mln) vs A$20.3 mln last year
 urn:newsml:reuters.com:*:nASXbnnqF2
    ** Co says it saw lower volume and margins from premium 4WD
tyres, lower margins from general wholesale activities and was
also affected by supply chain disruptions
    ** As of 0334 GMT, about 393,000 shares of the
Queensland-based co have been traded vs their 30-day moving
average of 165,000 shares
    ** Stock down 35.3% YTD as of last close

    ($1 = 1.4554 Australian dollars)


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