Event non-ATF Mobile

Electro Optic Systems Holdings Limited (ASX: EOS) announced to upgrade the forecasted underlying EBIT growth rate for the 12 months ending 31 December 2020 (FY2020) as compared to the 12 months ending 31 December 2019 (FY2019) to ~70% against the previous guidance of ~45% .

The company also announced an institutional placement of new fully paid ordinary shares to raise $68 million, and support the revised EBIT guidance, while funding the ongoing growth initiatives and working capital requirements.

The backlog of confirmed orders and contracts in the process is likely to grow to ~$630 million by 31 December 2019 and EBIT is expected to grow to ~$33-35 million for FY2020.

At AEST 1:09 PM, EOS quoted at $6.610.



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