The chief executive of DGL Group says the market has overreacted after shares in the chemicals and logistics conglomerate plunged nearly 50 per cent in the three sessions following the release of its annual results on Wednesday.
But Simon Henry said the market had “absolutely” overreacted after three horror trading sessions wiped $350 million from its market capitalisation.The Australian Financial Review.Advertisement Shares in DGL fell again on Thursday, by more than 15 per cent, before mounting a recovery late on Friday, closing 2.26 per cent higher on the day to finish the week at $1.58 – after starting at $2.75.DGL’s brokers hosted several investor calls following the results in which Mr Henry was pushed to explain the outlook, the contribution of one-off profits and the extent to which acquisitions would drive earnings growth.