Australia's Adacel rises on contract with French air navigation service provider

Adacel Technologies

07/04/2022 04:07

** Shares of aviation simulation developer Adacel
technologies  ADA.AX  rise as much as 3.1% to A$1.16, their
highest since March 29
    ** Co receives new ATM system order from French air
navigation service provider Direction des Services de la
Navigation Aérienne 
    ** ADA says order valued at over $2.1 million
    ** Says 97% of forecasted revenues for FY2022 either booked
or in backlog
    ** Co reaffirms FY profit before tax forecast of $5.7 mln to
$6 mln 
    ** Stock on track for best day since March 28, if gains hold
    ** ADA stock down 10.7% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com))