BUZZ-Australia's Matrix eyes best session to date on contract win

Reuters

Nov 25, 2024

** Shares of Matrix Composites & Engineering MCE.AX rise as much as 26.1% to A$0.29, set for their best session to date - if current gains hold

** Stock hits highest level since Nov. 11

** Equipment manufacturer and engineering services co says it has been awarded a contract valued at A$21 mln-A$23 mln ($13.70 mln-$15.00 mln) by UK-based oil-related services and equipment provider Subsea 7 SUBC.OL

** Contract to supply Subsea Umbilicals, Risers and Flowlines $(SURF)$ product for an international project

** SURF product is related to installation of oil and gas systems in deep waters

** Stock up 24.9% YTD, including current-session moves

($1 = 1.5330 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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