(Reuters) – Singapore’s Seize Holdings (NASDAQ:) raised its forecast for fiscal 2024 income on Monday, because it anticipates strong development in its meals supply and ride-hailing companies.
U.S.-listed shares of the corporate rose 9% in prolonged buying and selling.
The corporate expects income within the vary of $2.76 billion to $2.78 billion, in contrast with its prior projection of between $2.70 billion and $2.75 billion.
Its mainstay meals supply enterprise has been recovering from a post-pandemic stoop in demand as shoppers enhance their discretionary spending budgets in an indication of financial easing.
“We remain bullish on the long-term growth outlook of Southeast Asia, and are firing on all cylinders to capture the strong user demand trends,” Seize CEO Anthony Tan mentioned.
The corporate nonetheless expects constructive free money circulate for the complete yr.
It reported third-quarter income of $716 million, exceeding Seen Alpha estimates of $700.8 million.
