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Australia's Premier Investments jumps as Citi backs in-line earnings

By Reuters News03:36 (UTC), 24 September 2026 Updated

** Shares of Premier Investments PMV.AX rise as much as 9.4% to A$12.210, their biggest intraday gain since January 22

** Shares hit highest level since August 7

** Co's retail unit posts FY26 EBIT of A$175.9 million ($123.71 million), in line with its guidance

** Citi says trading update "appears broadly in-line with VA consensus 1H27 estimates"

** Brokerage adds investors are likely to welcome Premier's 36 Australian cents-per-share final dividend, which came in ahead of Citi estimates

** Citi also notes stronger-than-expected sales at Premier's most profitable brand, Peter Alexander

** The broker does not expect material consensus earnings revisions following the update

** YTD, PMV down 15.1%

($1 = 1.4219 Australian dollars)

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