(Reuters) – Singapore’s Seize Holdings (NASDAQ:) raised its forecast for fiscal 2024 income on Monday, because it anticipates sturdy progress 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 stay bullish on the long-term progress outlook of Southeast Asia, and are firing on all cylinders to seize the sturdy person demand developments,” Seize CEO Anthony Tan stated.
The corporate nonetheless expects constructive free money circulation for the total yr.
It reported third-quarter income of $716 million, exceeding Seen Alpha estimates of $700.8 million.