Australia's Symal jumps to record high on Queensland asset buys

Symal

10/12/2025 24:24

** Construction services provider Symal Group SYL.AX advances as much as 6.55% to hit a record of A$3.090

** Stock posts its biggest intraday pct gain since November 28

** Co strikes A$28 million ($18.59 million) conditional deal to buy the assets of Queensland civil contractor Timms Group and L&D Contracting

** Expects to deliver annualised underlying EBITDA of ~A$8 mln in FY26, after deal completion

** Says the deal bolsters its integrated contracting model, among others

** Stock up 80% YTD

($1 = 1.5060 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))