SEYMOUR WHYTE WINS MOTORWAY CONTRACT
Written on the 9 July 2015
SEYMOUR Whyte (ASX: SWL) has been awarded a $33 million Pacific Motorway contract.
The Queensland Department of Transport and Main Roads will upgrade the Pacific Motorway, Exit 54 Interchange at Coomera.
The contract increases the company's forward order book to $335 million.
SWL chairman Mac Drysdale says the timing was perfect considering the pipeline for other company projects across the State.
"Project commencement timing aligns perfectly with the availability of resources finishing from other road projects across the State, such as the Smith Street Olsen Avenue Interchange Upgrade, which was delivered four months ahead of schedule," says Drysdale.
The company reports 10 transport infrastructure tenders currently active in Victoria, New South Wales and Queensland, and 16 utilities tenders active nationally.
Drysdale "reaffirms" the "health and strength of the business is good, with a very strong cash position".
This comes after a slowing in revenue and profit in the half year to December, following a slumping local infrastructure industry, the result being SWL deciding to broaden its scope nationally.