Tiger Brokers

BUZZ-Australia's Duratec climbs to 2-month high on potential contracts from local naval base

Reuters
Jan 08
BUZZ-Australia's Duratec climbs to 2-month high on potential contracts from local naval base

** Shares of Australia's Duratec DUR.AX rise as much as 11% to A$2.07, their highest level since November 4

** The protection and refurbishment services contractor posts its biggest intraday pct jump since August 29

** Co's Duratec Ertech JV instructed to start early procurement of A$5 million ($3.36 million) of long lead items for HMAS Stirling naval base upgrades in Australia

** Procurement is part of the planning phase of infrastructure upgrades at base

** Says further early on-site contract works possible as contract design nears completion; award of project expected in Q3 FY26

** Says second contract for delivery of facilities for infrastructure upgrade at HMAS Stirling expected in Q4 FY26

** Stock jumped 28.3% in 2025

($1 = 1.4899 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

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