Australia's Stealth Group rises on securing exclusive selling rights for power tool brands

Stealth group

27/02/2025 03:45

** Stealth Group SGI.AX soars 23% to record high of A$0.775

** Industrial distribution group secures exclusive distribution rights in Australia and New Zealand for popular power and hand tool brands - CAT Power Tools, Wesco Power Tools and Harden Hand Tools

** Says deal further strengthens co's position in power and hand tool market

** Expects to exceed its previous outlook of A$30 mln (~$19 mln) in exclusive, private-label and own-brand sales of co's total rev target of A$300 mln if contract agreement targets met by FY28 in sell-through

** About 500,000 shares traded, ~2x the 30-day average

** SGI up 46.5% so far this year, as of last close

($1 = 1.5873 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com;))