Australia's Tasmea jumps on positive FY results, deal

Tasmea

26/08/2024 06:23

** Shares of engineering services provider Tasmea  TEA.AX 
advance as much as 11% to A$1.820; last up 7.6% as of 0458 GMT
    ** Co reports FY pro-forma net profit after tax of A$36.9
mln ($25 mln), up about 30% on last year; declares a fully
franked final dividend 4 AU cents/share
    ** Says FY24 pro-forma revenue grew 10.8%, driven by robust
performance in core sectors such as mining, energy
    ** Adds that it has acquired Perth-based Future Engineering
Group for A$84.5 mln; deal to deliver about A$15.5 mln in
operating earnings under Tasmea's ownership
    ** As of last close, stock has fallen more than 3% since
listing on April 29

($1 = 1.4756 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))