Mining and civil contractor NRW (ASX: NWH) says its order book, at $2.05 billion, is approaching record levels following new work wins and contract extensions. Of the total order book, $875 million of work is secured for delivery next financial year, with NRW flagging revenues in 2018-19 of more than $1.1 billion. The new and extended work is dominated by coal mining work in Queensland but also includes a project at the Argyle diamond mine in WA and civil works.
NRW is pleased to advise that as a result of the $93 million Isaac Plains contract extension announced with Stanmore Coal last week, the recent $230 million Curragh contract extension and the $420 million Baralaba coal contract, both awarded in May, the total order book has now increased to near record levels at $2.05 billion, as at the end of May 2018.
Other recent contract wins also include circa $65 million of new work and contract extensions in the Golding Civil and Urban businesses and a $7 million trial rehabilitation project at the Argyle Diamond Mine.
The order book now includes around $875 million of work secured for delivery next financial year with total revenues in FY19 expected to exceed $1.1 billion.
NRW’s West Australian civil business is well placed to participate in the upcoming major iron ore replacement and sustaining tonnes projects, the first of which is expected to commence during the first half of the 2019 financial year.
Jules Pemberton, Managing Director and CEO said, “NRW continues to be very well placed to capitalise on the significant strength in the Australian resources and Infrastructure sectors. Our increasingly diverse and geographic service offering is further broadening and currently includes projects for key clients across the bulk commodities, lithium, gold, public infrastructure and urban development sectors.
With an order book of $2.05 billion and $875 million already committed for delivery in FY19, we are well positioned to expect revenue growth in excess of 40% over the 2018 financial year.”