Yesterday evening, Austal Ltd (ASX: ASB) updated the contract value for its latest Australian Border Force order to $150.3 million, increasing from the $136 million previously reported.
What did Austal report?
- Correction: Contract price for two Evolved Cape-class Patrol Boats updated to approximately $150.3 million (up from $136 million)
- Contract is for the Australian Border Force
- Austal continues to expand its defence vessel contracts globally
What else do investors need to know?
This correction ensures investors have the accurate contract value for Austal’s recent deal with the Australian Border Force. The contract further strengthens Austal’s position as a leading defence exporter and strategic shipbuilder for the Australian government.
Austal has a major presence both in Australia and overseas, supplying advanced vessels to defence and commercial customers in over 59 countries. The company has now contracted more than 360 vessels globally during its nearly 40-year history.
What’s next for Austal?
Austal will continue delivering on its contract for the two Evolved Cape-class Patrol Boats, with the updated value reflecting the scope of work. The company remains focused on its major defence programs and leveraging its role as the Commonwealth’s Strategic Shipbuilder in Western Australia.
With multi-national shipyards and a sustained pipeline of defence projects, Austal expects to maintain its industry-leading position supplying vessels to governments and agencies worldwide.
Austal share price snapshot
Over the past 12 months, Austal shares have declined 18%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.
The post Austal issues correction for Border Force contract price appeared first on The Motley Fool Australia.
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