Tag: market news

Defence industry company XTEK has updated its FY23 results guidance, anticipating record revenues for FY23 of between $86 million to $88 million up by circa 50 per cent compared to the previous recorded revenue of $58.2 million. 

Despite growing economic difficulties in the additive manufacturing (AM) global market, the first quarter of 2023 saw double-digit sequential growth to USD 3.7 billion (AUD 5.5 billion) compared to USD 3.4 billion (AUD 5 billion) during the same period of the prior quarter in, according to latest data from SmarTech Analysis. 

A recent report from SmarTech Analysis revealed that the metal additive manufacturing (AM) services revenue is forecasted to reach USD 16.1 billion (AUD 24 billion) by 2031.

Engineering and construction company Saunders International Limited has secured a $42 million contract to provide tank refurbishment and modification services for bp’s renewable fuels project in Western Australia. 

Additive manufacturing companies Stratasys and Desktop Metal have announced they have entered into a definitive agreement where the two companies will combine in an all-stock transaction valued at around USD 1.8 billion (AUD 2.77 billion).

New Zealand dairy giant Fonterra raised its fiscal 2023 earnings forecast today amid ongoing strong margins in protein and cheese portfolio and said it expects to pay a lower price for milk to its farmers next season. 

American additive manufacturing company Markforged has reported that its first quarter results revenue increased by 10 per cent, to $24.1 million (AUD 36 million) from $21.9 million (AUD 32.7 million) in the same period of the prior year. 

Weak demand in the Australian manufacturing sector has driven the country’s Purchasing Managers Index (PMI) to a 35-month low, according to the latest data from Judo Bank. 

The Australian Producer Price Index has increased by 5.2 per cent in Q1 year-over-year versus a forecasted 5.0 per cent, while input prices to manufacturing rose 0.6 per cent over the quarter and rose 5.0 per cent over the past 12 months.

Australian graphene production company Sparc Technologies has received a $934,195 research and development tax refund as part of the Australian government’s R&D tax incentive, relating to the 2022 financial year.