WATPAC'S HOSPITAL AND PROFIT EXPANSION

Written on the 21 August 2014

WATPAC'S HOSPITAL AND PROFIT EXPANSION OFF the back of a profitable year, Watpac (ASX: WTP) has been awarded a $45 million hospital expansion contract.

The company will expand Knox Private Hospital in east Melbourne, commencing construction next month.

This comes following an announcement earlier this week of a $17.9 million after tax profit for the past financial year and adds to WTP’s current $2 billion portfolio, including the Queensland State Velodrome for the Gold Coast 2018 Commonwealth Games and the Southpoint Office Tower in Brisbane. 

WTP chair Chris Freeman says an improving east coast construction market and Western Australian civil operations have boded well with the company.

“We have been successful in the growth of our core businesses in the last 12 months, particularly construction, securing projects across a number of sectors including health, education, defence and public private partnerships which places us in good stead for 2015 financial year and beyond,” says Freeman.

WTP CEO Martin Monro (pictured) says the company’s contracting business has been a particular winner over the period.

“The group had a national work in hand position of nearly $2 billion as at 30 June 2014 and this is mainly attributable to the strengthening of our contracting business in FY14,” says Monro.

“While we have seen an increase in activity for the building industry, the resources sector has been soft. However our national mining and WA civil business is well placed to respond positively to the needs of the market.

“Our focus for the year ahead remains on strengthening our core businesses, in addition to the capabilities of our people, our culture and safety.”



Latest News

SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

FIERCE rivals Slater & Gordon (ASX: SGH) and Maurice Blackburn have secured funding for class actions against Bel...

WHY VIDEO IS A "GIVEN" FOR BUSINESS

IN TODAY's digital-driven world, video is king and if used right, it can push a company's brand and brand ...

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The com...

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths a...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter