Australia's HighCom gains on $3 mln ballistics order, strong revenue outlook

Highcom

15/12/2024 23:51

** Shares of HighCom  HCL.AX  rise as much as 25.8% to
A$1.195, their biggest intraday pct gain since Aug 12     
    ** The defence firm says it received new order of ballistic
products for an international customer worth A$4.8 mln ($3.05
mln)
    ** Adds it expects revenue at end of H1 FY25 at the
upper-end of outlook of between A$23 mln and A$25 mln
    ** Stock at highest level since Nov 1    
    ** HCL stock down 52.6% YTD, as of 1140 GMT

    ($1 = 1.5716 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))