Global Construction Services Shares Uplifted After Securing A Four-Year Contract By Woodside Energy Ltd

On 3 October 2018, Global Construction Services Limited (ASX: GCS) announced that it has secured a four-year contract by Woodside Energy Ltd as operator of the North West Shelf gas. Following this news, the share price of the company uplifted by 4.167 percent as on 3 October 2018.

The main tasks under this contract include the supply, maintenance, transport, storage and handling of the scaffold and access equipment for all offshore and onshore locations of the Project, as well as for the provision of such services across other Woodside-operated locations onshore and offshore.

Recently, the company also secured an $11.5 million concrete structure contract for the Goulburn Valley Health redevelopment in Shepparton, Victoria as announced on 1 October 2018. This is the second hospital development contract to be given to SRG Global in the past three months which indicates the confidence customers such as Lendlease Place are having in the company’s ability to deliver on these significant projects.     

In FY 2018, the company revenue increased by 33% to $247.5 million compared to last year. The revenue of the company grew primarily due to Gallery Facades and GCS Summit which were both acquired in FY17 and therefore delivered a full year revenue contribution during FY18 comparatively. The earning per share (EPS) of the company increased by 18.5% to 6.4 cents from the previous year’s 5.4 cents. The group EBITDA of the company increased by 6.9% to $24.2 million in FY 2018. As at 30 June 2018, the company was having a net cash of $35 million which was only $3.8 million in the previous year. Due to a $28.3 million cash inflow arising on the divestment of the GCS Hire business asset, the company generated $23.8 million of net cash inflows from investing activities.

GCS’s share traded at $0.750 with a market capitalization of $317.1 million as on 3 October 2018 (AEST 4:00 PM).

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report