Australia's Southern Cross hits over 9-month high on upbeat FY outlook

Southern Cross Electrical Engineering

09/08/2022 02:16

** Shares of Southern Cross Electrical Engineering  SXE.AX 
jump as much as 7.4% to A$0.730, their highest since Oct. 25,
2021
    ** The electrical and communication services provider
expects https://www.asx.com.au/asxpdf/20220809/pdf/45cnrclxlf47p2.pdf
 FY22 revenues to exceed A$550 mln ($383.85 mln)
    ** Co expects to record FY22 EDITDA guidance of over A$35
mln, up from prior estimate of A$34 mln
    ** Stock set to mark best session since June 7, if gains
hold
    ** More than 300,000 shares have changed hands, vs the
30-day average of about 140,000 shares 
    ** SXE up for fifth consecutive session
    ** As of last close, Southern Cross shares up ~13.3% YTD
    



($1 = 1.4329 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))