Australian shipbuilder Austal has raised its earnings outlook based on the growing productivity of its shipyards in Asia, the company said on 16 July.
Austal said that in fiscal year (FY) 2019, which ended 30 June, it expects EBIT of approximately AUD92 million (USD64.5 million) and revenues of between AUD1.8 billion and AUD1.9 billion.
The company added that it expects EBIT of "not less than" AUD105 million in FY 2020, with the increase over FY 2019 driven by improvement from Austal's Australasia shipyards, as well as continued strong performance on its major vessel programmes for the US Navy. These comprise the Littoral Combat Ship and Expeditionary Fast Transport ship projects.
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