Australia's DroneShield hits nearly 2-month high on Latin American contract

DroneShield

05/01/2025 23:49

** DroneShield  DRO.AX  rises as much as 9.9% to A$0.835,
highest since Nov. 11, 2024
    ** Aerospace co bags A$9.7 mln ($6 mln) contract for
counter-drone systems to be delivered to a military client
through the ASX-listed firm's local distributor in Latin America
    ** Says order delivery expected in H1 FY25, with 80% payment
anticipated before shipping and remaining post-delivery
    ** Stock posts biggest intraday pct gain since Dec. 27, 2024
    ** DRO more than doubled last year, rising 106.8%
    
($1 = A$1.6098)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))