Austal: Increases FY20 guidance as COVID-19 impact proves less severe
- Australian shipbuilder Austal has increased its 2020 financial year earnings guidance to $2B, compared to a previous $1.9B
- The company also reported a rise in its earnings before interest and taxes of no less than $125M
- The extra money is from strong performance across the business and COVID-19 having less of an impact than originally expected
- Additionally, the company received research and development incentives in the U.S. after fitting the criteria
- The company is still remaining alert to the potential impact of COVID-19
- After announcing this report, Austal came out of a trading halt and is up 9.24 per cent and is selling shares for $3.31 each
