Stocks of the Hour: Matrix Composites & Engineering, DroneShield, MedAdvisor

Matrix Composites & Engineering Ltd (ASX:MCE) announced it has received a purchase order for approximately $44 million from multi-national oilfield services company Saipem to supply SURF products. Matrix Chief Executive Officer Aaron Begley said, “Our ability to methodically capitalise on the resurgence of activity in our traditional offshore buoyancy markets in 2022 has culminated in this very substantial purchase order.” Shares are trading 21.7 per cent higher at 28 cents.

DroneShield Ltd (ASX:DRO) announced that it has received an all-time record purchase order for approximately A$11 million for a Government agency customer. DroneShield CEO, Oleg Vornik, commented: “With this transformational next step in DroneShield’s growth, and as the counterdrone industry continues to rapidly grow, we look forward to rapidly fulfilling this contract.” Shares are trading 25.7 per cent higher at 22 cents.

MedAdvisor (ASX:MDR) has announced that it expects the first half of FY23 revenue to be up 50-60% on the same period in FY22. Commenting on the 1H FY23 revenue update, CEO & Managing Director Rick Ratliff, said: “MedAdvisor is seeing an increase in the use of inMotion thanks to the number of community pharmacies enabling digital access to 60 million individuals combined with MedAdvisor’s ability to service this growth at scale through our technology platform. Shares are trading 8.9 per cent higher at 24.5 cents.
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Source: Finance News Network