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Quickstep Holdings Limited (ASX: QHL)

We forecast QHL revenue of ~A$80.5m in FY20E (+10% on FY19A’s A$73m), split A$80m from Defence Aerospace (C-130, F-35 JSF) and A$0.5m from other business (Boeing, Lockelec). In FY21E/22E, we forecast revenue levelling off at ~ A$90m, with the increase over FY20E coming from F-35 flare housing sales to Chemring (~A$5mpa) and a new F-35 parts contract (A$3.5mpa) with Northrop Grumman
10/12/2019 3:00:00 PM

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