Australia's Saunders gains on $1.4 billion water works pipeline

Saunders International

26/10/2026 03:37

** Shares of Saunders International SND.AX rise 7.3% to A$0.74, their highest since October 9; set for best day since since June 2
** Engineering contractor says it secured four multi-year panel appointments and framework agreements across its national water business
** Co says agreements provide access to about A$2 billion ($1.40 billion) of forecast capital works programs over the next five years
** While there is no guaranteed volume of work under these arrangements, co says it expects opportunities arising from them to contribute to revenue and earnings from FY2027
** Stock down 8.6% YTD, including moves in the current session
     
($1 = 1.4241 Australian dollars)

(Reporting by Swetha Lakshmi in Bengaluru)
((Swetha.Lakshmi@thomsonreuters.com;))