Australia's Decmil Group gains on $98 mln worth contracts

Decmil

01/06/2022 06:12

** Shares of engineering and construction services provider
Decmil Group  DCG.AX  rise as much as 8.7% to A$0.125, their
highest since May 26
    ** Secures five new contracts in Western Australia and
Victoria totalling about A$137 mln ($98 mln)  urn:newsml:reuters.com:*:nASX6VBYNk
    ** Says revenue and earnings from new contracts will be
reflected in FY23 financial results
    ** Retains FY22 EBITDA outlook but cuts revenue forecast as
its projects at Ryan Corner and Crookwell grapple with delays
    ** Expects FY22 revenue to be between A$400 mln and A$425
mln vs A$425 mln to A$450 mln earlier  urn:newsml:reuters.com:*:nL3N2W60OB
    ** Shares mark their biggest intraday gain since May 25
    ** As of last close, stock down 64.6% this year

($1 = 1.3963 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))