Seymour Whyte awarded $83M contract in Brisbane

Company News

by David Chau

Seymour Whyte Limited (ASX:SWL) has been chosen as the contractor to perform works for the Port Drive Upgrade for the Port of Brisbane Pty Ltd.

The construction and engineering company says that this contract is worth $83 million, and its order book has now reached $380 million.

Construction is scheduled to commence in September 2016, with revenue from this project to be earned across the 2017 and 2018 financial years.

The company also says that this project will have no impact on the 2016 FY market guidance that it provided earlier in May. Furthermore, its detailed financial results for the 2016 FY will be released around 24 August 2016.

Seymour Whyte reported a net profit of $213,000 at 31 December 2015.
 

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.