Why the SRG Global (ASX:SRG) share price is up 5% today

The SRG Global Ltd (ASX: SRG) share price is up 5.26% in afternoon trading, having retreated from earlier gains of 9%. This follows on the company’s revised guidance update released to the ASX yesterday. Today’s lift in the SRG share price brings the company’s gains to 122% since its shares hit their 2020 low on 24 March. Shares are now on par with where they finished 2019, having reversed the COVID-led selloff earlier this year.

What’s driving the SRG Global share price higher?

The SRG share price is on the move today after the company revised its 2021 financial year guidance for earnings before income, tax, depreciation and amortization (EBITDA) to $42–45 million, up from $38-42 million.

The company forecast its…