Australia's Xtek hits nearly 5-month high on positive FY24 outlook

Highcom

16/10/2023 01:39

** Shares of Xtek Ltd  XTE.AX  rise as much as 15.7% to
A$0.480, their highest since May 23
    ** Ballistics and technology co says it has a pipeline of
projects at various stages of qualification worth more than
A$375 mln ($236.55 mln)
    ** Says it is positive about maintaining continued revenue
growth and profitability in FY24
    ** Stock up for a third session, posts its biggest intraday
pct gain since May 22
    ** Stock down 32% this year, as of last close

($1 = 1.5853 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.Govindrao@thomsonreuters.com;))