MARKETS

Seymour Whyte inks $24M Bruce contract

SEYMOUR Whyte has confirmed it has been awarded a $24 million contract to upgrade a section of th...

Jon Cuthbert
Seymour Whyte inks $24M Bruce contract

The infrastructure, engineering and construction firm will build approximately 3.7km of the highway at the Back Creek Range deviation, which starts about 24km north of Gin Gin.

The contract was awarded by the Queensland Department of Transport and Main Roads (Wide Bay/Burnett Region). About $13 million of the total contract will be complete in the current financial year, with the remainder to be finished in the year to June 30, 2014.

Seymour Whyte’s confirmed work order book in the current financial year now stands at $188 million, with a further $61 million to be carried into the 2014 financial year.

Seymour Whyte chief executive officer David McAdam said the project’s scope of works was a good fit with the company and the contract win confirmed its capabilities.

“This type of contract plays to our skills and is a timely reminder that there are opportunities in the current market to win new projects where you can present clients with a clear value proposition and industry-leading delivering skills,” he said.

In the year to June 30, Seymour Whyte recorded a net profit of $8.8 million with revenue up 36.2 per cent to $307.4 million.

This article first appeared in ILN's sister publication ConstructionIndustryNews.net.

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