SKS Technologies Group Ltd Share Sale and Update
Key points
- Executive Chairman and Executive Director sold 10 million shares
- Sale represents ~30% of Jinks family holdings
- FY27 sales revenue expected to be $500 million
- Additional $38 million in MEL2 data centre project
Full summary
SKS Technologies Group Limited (ASX: SKS) has announced that Executive Chairman Peter Jinks, Executive Director Greg Jinks, and an associated entity of Matthew Jinks have completed an on-market crossing of 10.0 million shares. The sale represents approximately 30% of the total shares held by the Jinks family and was motivated by high investor interest and a desire for wealth diversification. Following the sale, the Jinks family will hold around 21% of the company and remain the majority shareholder. The company also provided an update on its financial outlook for FY27, expecting sales revenue of approximately $500 million and a profit before tax (PBT) of $60 million. Additionally, SKS announced an additional $38 million of works on the MEL2 data centre project, bringing the total contracted value to $66 million.
Guidance
FY27 sales revenue expected to be $500 million, PBT of $60 million
Outlook
SKS expects continued profitable growth and maintains strong conviction in its future prospects.
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