Business
Why the McGrath (ASX:MEA) share price is surging 8%
The McGrath Ltd (ASX: MEA) share price has jumped higher in early trade. That comes after the Aussie real estate group provided a trading update and its latest full-year profit guidance.
Why is the McGrath share price surging?
Shares in the real estate company have rocketed higher at the open after it reported a significant earnings uplift. McGrath expects underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to be in the range of $16.5 million to $17.5 million.
For context, McGrath’s FY2020 underlying EBITDA totalled just $3.7 million. The McGrath share price is responding positively following this morning’s update. It comes after a bumper half-year result and McGrath’s advice that it expects…
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