UGL scores $280M QLD energy contract

Company News

UGL Limited (ASX:UGL) has scored a $280 million four year contract from Queensland Government owned energy company Stanwell Corporation. 

The engineering company will perform facilities maintenance and management, asset maintenance and management, overhauls and project works. 
Services will be performed across Stanwell’s coal, gas and hydro energy assets in Queensland and start from next month. 
Managing Director and CEO Richard Leupen says UGL is encouraged by improving levels of activity across the infrastructure sector and strong growth in its tendering pipeline. 
Today’s news comes a few days after UGL confirmed it is pursuing the divestment of its global property services business DTZ amid reports it could fetch up to $1.2 billion. 
UGL reported a net profit of $31.3 million in the first half of the 2014 financial year.

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