Australia's Orbital Corp gains on start of engine builds delivery to Boeing unit

Orbital

03/11/2022 24:11

** Shares of Australia based industrial technology co
Orbital Corporation Ltd  OEC.AX  rise as much as 6.5% to A$0.245
    ** Co says commenced the delivery of engine builds to Insitu
Pacific, a unit of The Boeing Company  BA.N  which is
responsible for supplying the Australian Army with its next
generation of tactical uncrewed aerial system  urn:newsml:reuters.com:*:nASXbVFgF4
    ** Co further maintains its revenue guidance of A$20 million
to A$25 million ($12.67 mln - $15.84 mln) for financial year
2023
    ** Stock has fallen 41.4% this year as of last close
($1 = 1.5783 Australian dollars)
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))