AUSENCO REPORTS SOLID FIRST QUARTER

Written on the 2 April 2015

AUSENCO REPORTS SOLID FIRST QUARTER

AUSENCO Limited (ASX:AAX) has signalled a strong start to 2015 after securing $177 million in additional revenue from new and extended contracts in the first quarter.

The revenue pipeline has contributed to the engineering and construction firm's preferred contractor and current work-on-hand balance of $147 million, up $42 million since February 2015.

The company was recently awarded a major international contract to provide engineering for a copper mine in Chile for 22 months. It follows the Encuentro Oxides copper contract with Minera Centinela.

Ausenco CEO Zimi Meka (pictured) says the group's reputation to deliver projects successfully has ensured a positive start to the year.

"Our growth is coming from our diversified, full service offering, our reputation for innovation and the strong relationships we've built with our clients," Meka says.

"Many of our quarter wins are from repeat clients who recognise first-hand our ability to deliver value on every assignment.

"In some cases, we're now providing new solutions to existing or past projects through our full service offering growing our involvement to deliver consulting services, asset optimisation and operations and maintenance solutions.

"Consistent with our previous statements, the bulk of our new project wins and potential client enquiries to date are coming from copper and gold projects in the Americas and asset optimisation opportunities globally."

Newcrest Mining has extended two Ausenco contracts for capital works at the Lihir mine in Papua New Guinea.

Vale has also expanded services provided by Ausenco in Mozambique, to include maintenance support and asset optimisation at the Moatize coal project.

Meka says the company aims to sustain growth for the remainder of the year, after identifying a number of international opportunities.

"We see a number of growth opportunities across several geographies, industries and commodities in 2015 and believe we are in a solid position to capitalise on this growth," he says.


Latest News

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the ...

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter