Australia's Southern Cross Electrical hits record high on upbeat forecast, new contracts
16/06/2026 04:01
BUZZ-Australia's Southern Cross Electrical hits record high on upbeat forecast, new contracts ** Shares of Southern Cross Electrical Engineering SXE.AX rise as much as 17% to a record high of A$4.705
** Stock heads for its best session since February 19, 2025
** Stock resumes trading on Tuesday after going on a halt on Monday
** Electrical services on Monday secured new works totalling over A$150 million ($105.86 million)
** Co also raised its underlying 2026 EBITDA forecast from at least A$72 million to A$75 million
** SXE expects 2027 EBITDA to be at least A$100 million, a 33% rise on FY26 underlying EBITDA forecast
** Stock up 84% this year, including the day's move
($1 = 1.4170 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
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