Australia's GR Engineering jumps on profit growth, revenue outlook

GR Engineering Services

22/02/2022 01:31

** Shares of GR Engineering Services  GNG.AX  climb as much
as 3.4% to A$2.15, on track for their best intraday session
since Jan. 28, 2022, provided gains hold 
    ** Engineering contractor says it turned a net profit after
tax of A$14.7 million ($10.56 million) during the half year, up
from A$8.5 million a year ago  urn:newsml:reuters.com:*:nASX4GjZbz 
    ** Declares a fully-franked interim dividend of 9 Australian
cents per share 
    ** Now expects full-year revenue in the range of A$580
million to A$600 million, after reporting a A$302.3 million
revenue in the half-year 
    ** Stock hits highest level since Feb. 14
    ** Trading volumes are over thrice their thirty-day average,
with more than 150,000 shares traded 
    ** GNG almost flat YTD, as of last close 
    



($1 = 1.3916 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))