Parenti Limited upgraded its FY23 guidance

Parenti Limited (ASX: PRN) has announced its FY23 upgraded guidance due to favourable movements in the US dollar to Australian dollar exchange rate, and improving operational and commercial conditions. For FY23, the company now expects its revenue to be in the range of AU$2.6 billion to AU$2.7 billion, compared with the previous guidance of AU$2.4 billion and AU$2.5 billion and EBIT to be in the range of AU$215 million to AU$230 million, compared with the previous guidance of AU$185 million to AU$205 million.

Now the company anticipates net expenditure of approximately AU$340 million, compared with the previous guidance of AU$330 million. Perenti Limited also announced that the impact of recent exchange rate volatility on its FY23 guidance is estimated at between AU$12 million to AU$16 million of additional EBIT.

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