Business
McGrath posts first profit in three years – The Australian Financial Review
Shares in the embattled real estate agency jumped 32 per cent on Monday, but are still about one-tenth of their IPO price back in 2015.
McGrath share prices jumped 6¢, or 32 per cent, to 25¢. The stock, which listed in December 2015 after selling for $2.10, closed down 12 per cent on its first day as a publicly traded company and has been a test for investors ever since, as it has battled goodwill impairments and depreciating rent rolls as well as dealing with allegations of sexual harassment in its ranks.
Company founder John McGrath. Cole Bennetts
But it was happier news as the company posted stronger-than-expected $3.7 mil…
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