Austal Limited (ASX:ASB) has increased its FY2020 earnings guidance to group revenue of ~ $2 billion and group EBIT of minimum $125 million. These are the updated version of the previous guidance where the company expected group revenue of minimum $1.9 billion and Group EBIT of minimum $110 million.
Factors influencing the Group’s improved forecast:
- Continued strong performance across the business.
- Limited impact of COVID-19 on the company’s performance in April and May 2020.
- The award & instant activity of a new vessel construction contract in Australia.
- Sustained strength of the US dollar aiding translation of USD revenue & earnings to AUD