BUZZ - Australia's Premier Investments shares surge as Citigroup expects its earnings to meet market expectations

Latest Updates

September 24 - ** Premier Investments (PMV.AX) shares rose as much as 9.4% to A$12.210, marking the largest intraday gain since January 22

** The share price hit its highest level since August 7

** The company's retail division reported FY2026 EBIT of A$175.9 million (link) (US$123.71 million), in line with its guidance

** Citi stated that the latest trading update is “overall broadly in line with VA’s consensus expectations for H1 2027”

** The brokerage added that investors may welcome Premier's announced final dividend of 36 Australian cents per share, which is above Citi’s expectations

** Citi also noted that sales for Premier’s most profitable brand, Peter Alexander, were stronger than expected

** The brokerage expects that following this result update, there will be no material change to market consensus earnings expectations

** Year-to-date, PMV shares have fallen 15.1%

(US$1 = A$1.4219)

(To facilitate non-English speakers, Reuters provides automated translation of its reports into several other languages. Because automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts and provides them only for readers' convenience. Reuters accepts no responsibility for any damage or loss arising from the use of automated translation functions.)