Macmahon secures $180m in works

MACMAHON Holdings Limted has been awarded new rail and civil construction contracts with a total value of $180 million.

MACMAHON Holdings Limted has been awarded new rail and civil construction contracts with a total value of $180 million.

CEO Nick Bowen also revealed that Macmahon had won more than $370 million of new contracts since January, taking its order book to a new record level of $1.8 billion.

The mainly infrastructure contracts include works on the Kingsgrove to Revesby Quadruplication Project, Eyre Peninsula Rail Upgrade and the Goonyella Rail Duplication Gas Project in the Northern Territory.

“Usually by April, we only have 50% of our work locked in for the following year, but we now have 70%, which puts us on track for significant growth next year,” Bowen said.

“However, the new work is later than we expected and our 2007 full year revenue, including Joint Ventures, will now be around $950 million compared to the $1 billion anticipated following the half year result,” Bowen said.

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