Australia's Symal rises to 1-week high on McFadyen buyout, outlook upgrade

Symal

18/09/2025 03:19

** Shares of Symal SYL.AX rise as much as 2.9% to A$1.750, their biggest intraday pct jump since September 9

** The construction firm acquires water contractor McFadyen Group for A$11 million ($7.30 million)

** Deal allows co to expand participation in water infrastructure, strengthens presence in Australia's Queensland
** Co hikes its FY26 normalized EBITDA outlook by A$2 million to A$117-A$127 million to reflect the expected pro-rata contribution from the acquisition
** YTD, shares up 2.7%

($1 = 1.5060 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)

 ((nichiket.sunil@thomsonreuters.com))