Government contracts build Woolam's success

BUILDING and renovating schools, hospitals, aged care facilities and airports, Woolam Constructions managing director George Bogiatzis may rely on government contracts for success, but he expects growth of up to 28 per cent this year.

Woolam’s’ exceeded expectations by 16 per cent in 2008-09 and Bogiatzis says the company’s key differentiator is its regional diversity, coupled with a 125-year involvement in building community-based structures.

“We are looking to secure a number of $20 million to $40 million projects – we’ve just started the $30 million Masonic Care nursing home in Sandgate,” says Bogiatzis.

“We just handed over the Yeppoon Hospital which was just under $20 million, in May the convention centre in Mackay which was $23 million and we’ve just handed over a $25 million aged care facility at Carina – that’s the style of project we do.

“There’s a need for government services to improve infrastructure in regional centres, and along those lines we’re targeting the Mackay Hospital to get some sort of involvement, which will be decided in a couple of months.”

The company has also been bolstered by the Federal Government’s Building the Education Revolution (BER) stimulus package, with several of refurbishment projects with state and catholic schools in Rockhampton.

With work in regional and South East Queensland and northern New South Wales, the company recorded revenue of $140 million last year and Bogiatzis plans to hire more office staff.

“There are opportunities in a number of regional markets and the work we do is something different to other contractors. The main reason we are increasing our staff numbers is to increase the presence and capability in our Brisbane office to handle larger jobs,” he says.

Woolam’s is also negotiating a contract to refurbish the Mt Isa airport and has worked on the $2.5 million Gladstone airport refurbishment – adding to the Rockhampton, Mackay, Ballina, Longreach and Emerald airports to name a few.