NRW pursues more growth after record year

NRW Holdings’ leadership is confident of the company’s contract prospects in the 2019 financial year.

Chief executive officer and managing director Jules Pemberton spoke positively about the company’s future at the company’s annual general meeting this week, saying the business remained “confident of strong activity levels in resources and infrastructure for the next five years”.

NRW’s results in the 2018 financial year have been bolstered through the $85 million acquisition of Golding in September 2017. Revenue doubled to $754.3 million in 2018, while net profit after tax was up 48 per cent to $42.2 million.

The company also secured 95 per cent of its delivery target of $1.1 billion for the 2019 financial year and has a total order book of $2.4 billion thanks to the Golding’s $93 million Isaac Plains contract extension with Stanmore Coal.

“NRW is well placed for further growth this financial year due to our record order book and a strong tender pipeline of circa $6 billion,” chairman Michael Arnett, in his opening address, said.

“We remain confident in increased activity levels in both the resources and infrastructure sectors over the coming years.”

Other key contracts cited by Arnett include the $176 million South Flank civil works contract with BHP awarded in July, and the $324 million mining contract with Gascoyne Resources at the Dalgaranga gold project executed in December 2017.