Australia's Austal posts better-than-expected annual profit; stock hits record high

Austal

29/08/2025 01:49

Aug 29 (Reuters) - Australia's Austal ASB.AX reported a six-fold increase in its annual profit on Friday, boosted by higher U.S. shipbuilding contracts, sending its shares to a record high.

The shipbuilder and defence vessel maker posted net profit after tax of A$89.7 million ($58.3 million) for fiscal 2025, up from year-ago A$14.9 million and above Visible Alpha consensus estimate of A$67.9 million.

Shares of the company rose as much as 19.6% to a record A$8.070 by 0043 GMT.

($1 = A$1.5389)

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Sumana Nandy)

 ((Shivangi.Lahiri@thomsonreuters.com;))