All You Need To Know About Austal Limited

  • Nov 30, 2018 AEDT
  • Team Kalkine
All You Need To Know About Austal Limited

Austal Limited (ASX: ASB) ended the session on November 30, 2018 on the positive note. On the same day, the company came forward and issued a press release which contains the information related to the Guardian Class Patrol Boat or GCPB. The company stated that delivery to Australian Department of Defence of the first Guardian Class Patrol Boat has been made. In the handover ceremony, the Guardian Class Patrol Boat was presented to the government of Papua New Guinea or PNG. The company reflected positive views in regard to the program delivery. As per the company, the Guardian Class Patrol Boat has managed to bring more than 200 employees of the company along with their skills together. There is a probability that 200 more people can be employed via construction, design as well as sustainment process. 

In the press release which was released, it was mentioned that Guardian Class Patrol Boat happens to be the newest evolution in regard to the company’s patrol boat platform. Additionally, this platform came out approximately twenty years ago. From the year 1998, the company has managed to give 32 patrol boats to the Australia. As per the press release, in regard to the Australia as well as around the world, the company has already delivered, or it possess orders of 97 patrol boats.

In FY 2018, Austal Limited generated net profit after tax or NPAT amounting to $39 million in FY 2018 which implies the YoY growth of 155%. The company had earlier reflected favorable views in regard to the FY 2018 results and stated that the robust performance with respect to the NPAT was witnessed because of the strong performance in regard to the US Navy shipbuilding programs. The company also reflected favorable views in regard to the cash as well as capital management. The company ended FY 2018 with $162 million cash balance representing a rise on the YoY basis; and as in FY 2017, the cash balance was $150.5 million. Because of the robust cash flow position, the company managed to declare dividend per share amounting to 5 cents. Of these 5 cents, 3 cents happen to be the final dividend while the remaining 2 cents represents the interim one. However, on the back of strong cash position, financing of the ElectraWatch acquisition as well as repayment with respect to US$4.5 million in regard to the Go Zone Bonds was also done. However, with the help of the existing cash, the expansion of the facility in Australia as well as Asia was also financed.

On November 30, 2018, the stock price of Austal Limited closed at A$1.855 per share which implies that the stock has witnessed the rise of A$0.035 per share or 1.923% on the intraday basis. However, the company has a market capitalization of $640.63 million and Austal Limited’s stock price was trading towards the higher range. However, the annual dividend yield of Austal Limited stood at 2.75%. Over the period of one month, the stock has delivered the return of 2.82%.


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