Matrix Composites & Engineering Ltd (AU:MCE) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Matrix Composites & Engineering Ltd has secured a lucrative contract with Subsea 7 for the supply of Subsea Umbilicals, Risers, and Flowlines (SURF) products, valued at approximately A$21m to A$23m. This contract, part of a growing portfolio, contributes to a record year for Matrix, with secured revenue from the SURF market reaching around $60 million for FY25, surpassing FY24 totals. The company anticipates further growth amid strong market conditions and numerous opportunities on the horizon.
For further insights into AU:MCE stock, check out TipRanks’ Stock Analysis page.