SEDGMAN BLAST OFF WITH MORE CONTRACTS

Written on the 14 May 2010

SEDGMAN BLAST OFF WITH MORE CONTRACTS

SEDGMAN Limited (SDM) has signed another $50 million worth of contracts, with managing director Mark Read (pictured) confident about earnings outlook for FY 2010.

The contract will include design and balance of supply work for Riversdale Mining Limited’s (RIV) Benga coal handling and preparation plant (CHPP) in Mozambique, following a $13 million contract signed in December.

Last week Sedgman signed a $50 million deal with Narrabri Coal Operations Limited (NCO).

Read says the latest contracts will give the company a positive outlook for 2011.

“We expect to continue to grow our order book by capitalising on the increasing number of project opportunities both in Australia and abroad,” he says.

“Having achieved market leadership in Australia, we are now winning significant international projects in our targeted regions.”

WHTM Corporate Finance recently upgraded Sedgman’s 12-month target price from $1.80 to $2.10.

SDM shares dropped 0.3 per cent today to $1.67, most likely due to sentiment surrounding the Henry Tax Review and European market jitters.


Latest News

CROWN EMPLOYEES CONVICTED, JASON O'CONNOR TO SPEND 10 MONTHS IN JAIL

CROWN Resorts (ASX: CWN) employees who were arrested in October last year on suspicion of gambling offences have b...

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two year...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

Related News

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE ed-tech company Retech Technologies (ASX: RTE) has listed on the ASX after raising $17.9 million from its IPO...

COLLINS FOODS GOBBLES UP MORE AUSSIE KFC STORES

COLLINS Foods Limited (ASX: CKF) has purchased 28 KFC restaurants from Yum! Brands Inc for $110.2 million, adding fur...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter