Austal Limited
(ASX:ASB) has been awarded a not-to-exceed $US9.9 million modification to a previously awarded Littoral Combat Ship (LCS).
This modification will incorporate additional accommodations to increase crew size on the LCS Independence-variant ships.
Work is expected to be completed by August 2019. Funding in the amount of approximately $US7.5 million will be obligated at the time of the award.
Austal has delivered three Independence-variant LCS to the US Navy and is also constructing 10 Expeditionary Fast vessels, with six already delivered.
Austal recorded a net profit of $16.8 million at 31 December 2015.