NRW Holdings Limited expects over $1.1 Bn of revenue in FY19

NRW Holdings Limited (ASX: NWH) has provided an operational update of the $93 Mn Isaac Plains contract extension which was announced a week ago. In relation to this, the ongoing $230 Mn Curragh contract extension and the $420 Mn Baralaba coal contract, both were awarded in the month of May’18. With this, the total order book has now increased to near record levels at $2.05 Bn, as at the end of May’18.

Apart from this, the other recent contract wins also included around $65 Mn of new work & contract extensions in the Golding Civil and Urban businesses and a $7m trial rehabilitation project at the Argyle Diamond Mine. Further, the company has bagged $875 Mn of secured order book which will be delivered in next financial year 2019 with total revenues in FY 2019 expected to exceed $1.1 Bn.

According to the Management, the group continues to be very well placed to capitalise on the significant strength in the Australian resources and Infrastructure sectors. Further, the company’s well diversified portfolio and geographic reach will further support business expansion and incorporates ventures for key customers across the bulk commodities, lithium, gold, public infrastructure and urban development sectors.

At last, the company already committed to deliver order book of $2.05 billion and $875 million in FY19 and the group is well positioned to expect revenue growth more than 40% over the 2018 financial year. NWH rose over 7.8% with the above news prior to market close on June 26, 2018.


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