Brief: Southern Cross Electrical Engineering Says To Buy MDE Group

Southern Cross Electrical Engineering

13/05/2024 02:15

May 13 (Reuters) - Southern Cross Electrical Engineering
Ltd  SXE.AX :
    * EXECUTED A SHARE PURCHASE AGREEMENT TO ACQUIRE 100% OF MDE
GROUP
PTY
    * DEAL FOR AN ENTERPRISE VALUE OF UP TO A$10.55M
    * MDE IS FORECAST TO DELIVER FY24 REVENUE OF A$20M
    * MDE IS FORECAST TO DELIVER FY24 NORMALISED EBIT OF CIRCA
A$3M
    * IN FY25 EBIT IS FORECAST TO GROW TO AT LEAST A$5M

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