Australia's Decmil Group hits record low after co cuts FY22 outlook

Decmil

08/04/2022 04:51

** Shares of Decmil Group  DCG.AX  fall as much as 21.1% to
A$0.15, hitting their record low 
    ** Co set for worst trading day since June 2020, if losses
hold 
    ** The construction and engineering firm cuts its FY22
revenue outlook to A$425 mln ($317.73 mln) to A$450 mln from
A$470 mln  urn:newsml:reuters.com:*:nASM00070J
    ** Meanwhile, co also secured two separate contracts
Covalent Lithium and Talison Lithium worth A$34 mln combined
 urn:newsml:reuters.com:*:nFWN2W51PR
    ** Trading volumes are 10 times the 30-day average of
186,738 shares 
    ** Stock down 41.5% this year, as of last close 
    
    ($1 = 1.3376 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))