Australia's Titomic gains on installation of cold spray system in UK-based firm

Titomic

29/06/2022 06:35

** Shares of cold spray additive manufacturer Titomic Ltd
 TTT.AX  jump as much as 17.4% to A$0.27, their biggest intraday
pct gain since June 23
    ** Titomic says it has completed installing a cold spray
system at UK-based research and consultancy firm TWI Ltd 
 urn:newsml:reuters.com:*:nASX9h7gB5
    ** Titomic says it will recognise revenue from the sale and
installation of 1.2 mln pounds ($1.46 mln), to be reflected in
Titomic's FY22 figures
    ** TTT expects the sale to TWI may also lead to further
machine sales in the future for commercial applications
    ** Stock up about 18% this year, as of last close

    ($1 = 0.8196 pounds)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))