Exos Shares Rise After EUR1 Billion Buyback Launched, 1st Half Net Profit Soared
14 Settembre 2023 - 9:57AM
Dow Jones News
By Maitane Sardon
Shares in Exor rose in early trading on Thursday after the
investment company said that it has approved a share buyback
program of 1 billion euros ($1.07 billion), and that net profit
soared in the first half.
Exor reported a net profit of EUR2.16 billion for the six months
ended June 30, compared with the EUR265 million a year earlier. It
attributed the improvement to the results of its subsidiaries.
The company said it will buy back EUR1 billion of its own
outstanding shares over the next 12 months to invest in its own
companies.
At 0719 GMT shares traded 6.3% higher at EUR86.72.
Exor said its net asset value increased to EUR34.19 billion at
the end of June from EUR28.23 billion at the end of December last
year.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
September 14, 2023 03:42 ET (07:42 GMT)
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