Australia's Saunders International rises on $27.7 mln contract

Saunders International

05/06/2023 03:25

** Shares of Saunders International Ltd  SND.AX  rise about
1% to A$1.120, hitting their highest level since April 20 
    ** Engineering and construction co says it has been awarded
a A$42 mln ($27.74 mln) contract 
    ** Says contract to provide tank refurbishment and
modification services for BP at its Kwinana energy hub, in
Perth, Western Australia
    ** Says project will commence in July 2023 and contribute to
co's revenue and earnings from FY24 to FY26
    ** Shares post their biggest intraday pct gain since May 29
    ** SND stock down 13.4% YTD, as of last close 

($1 = 1.5142 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))