DGL shares plunge 16% after profit downgrade

Shrinking fortune: DGL's managing director and majority shareholder Simon Henry. (Image: DGL)

Thu, 15 Jun 2023

Shares in chemicals handling and production company DGL Group plunged 16.8% in early trading on the Australian stock exchange this morning following a material downgrade to expected earnings in the current financial year.Shares in DGL were trading at 96 Australian cents (NZ$1.07) just after 12.30pm (NZ time), their lowest since the company listed in May 2021 in an initial public offering that saw the share price more than triple and peak at A$4.09 in April last year.Less than a month later, the Auckland-based firm gained notoriety and decided t...

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