Austin Engineering Limited (AU:ANG) has released an update.
Austin Engineering Limited’s Chile division has capitalized on rising global copper demand, securing a substantial $2.5 million order for a dipper bucket from a local customer, contributing to a 30% year-on-year increase in the company’s order book to $201 million. The company, riding on a resurgence in Chilean copper production, is poised for continued growth into FY25, with a projected revenue surge to $310-330 million and a 75% rise in NPAT to $31-33 million. This growth trajectory is bolstered by recent expansions in manufacturing capacity and a series of international sales following Mainetec’s acquisition.
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