Australia's DRA Group hits all-time low on dim FY22 outlook

DRA Global

11/05/2022 02:34

** Shares of DRA Global  DRA.AX  drop as much as 3.7% to
A$2.59 — a record low
    ** Mining engineering and project management group says 
FY2022 revenue and earnings will be lower than FY2021
 urn:newsml:reuters.com:*:nASM000B5W
    ** DRA sees revenue in the range of A$900 mln ($624.87
mln)to A$1 bln 
    ** Sees underlying EBIT for FY22 to be in the range of A$15
mln to A$25 mln
    ** Co says the board has not resolved to declare a dividend
for FY21 
    ** Stock posts its biggest intra-day percentage fall since
April 7
    ** Stock is down 19.7% this year, as of last close 

($1 = 1.4403 Australian dollars)

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