Engineering services provider Ausenco Ltd
(ASX:AAX) says improving global conditions this year should boost its growth.
In the Brisbane-based company’s annual report, CEO Zimi Meka says he expects Ausenco to benefit from improving business confidence, strengthening commodity demand and signs of economic growth.
Mr Meka says a number of previously deferred project delivery contracts had been returned and the company’s order book is growing with tender activity at historically high levels.
The company is confident it will convert a share of its estimated $18.3 billion pipeline of study and design projects into further work.
Ausenco chairman, former Queensland Premier Wayne Goss, says the company has renewed its focus on its strategic direction and implemented a number of initiatives to strengthen and diversify its portfolio.
In 2009, Ausenco booked a profit of $20.14 million.
