Transfield Services extends government contract

Company News

Transfield Services Limited (ASX:TSE) has signed a short-term extension to its contract with the Department of Immigration and Border Protection.
Under the agreement, Transfield Services will continue to provide welfare and garrison support services at the regional processing centres in Nauru and Manus Province.
The deed of variation extends the company’s current contract for a further four month period.
Transfield told shareholders this will allow for the progressive transition to any new contract arrangements entered into by the Department. Any such new contract is expected to take effect from March 2016.
Transfield Services recorded a net profit of $48.6 million at 30 June 2015.