Today, the S&P/ASX 200 index was slightly down by 0.25%. However, there were companies who came up with material announcement today and witnessed movement in their share prices. Let’s take a look at few companies which came up with significant updates today.
Downer EDI Limited (ASX: DOW)
Downer EDI Limited, a leading provider of integrated services in Australia and New Zealand, has announced that Confluence Water Pty Ltd, a joint venture comprising Downer, Broadspectrum and Jacobs, has been selected as one of three consortia to deliver their critical services to the growing region of Northern Sydney.
Confluence Water will perform several tasks which include designing, construction, maintenance and facilities management services and it will also be responsible for the maintenance, renewal as well as upgrade of existing assets in the region.
A few days back, Downer was awarded a five-year contract, to plan, design as well as deliver water and wastewater infrastructure for Logan City Council (LCC), demonstrating the company’s market leadership in delivering complete water lifecycle solutions.
Last month, Downer was selected as preferred contractor to deliver the Yanchep Rail Extension and the Thornlie – Cockburn Link, part of Perth’s METRONET program, demonstrating the company’s expertise in the design and construction of heavy rail, tracks, stations and rail bridges.
Notably, in the last six months, DOW’s stock price has increased by 18.42% as on 19 December 2019. At market close on 20 December 2019, DOW was trading at a price of 8.720, up by 0.486% intraday, with a market cap of around $4.89 billion.
To know more about Downer, Click Here.
CIMIC Group Limited (ASX: CIM)
CIMIC Group Limited has announced that a conditional settlement agreement that has been reached between the company and certain shareholders who had acquired an interest in the company between 23 November 2010 and 3 October 2013.
Notably, Rio Tinto has recently awarded CIMIC Group company CPB Contractors three separate packages of work at Robe Valley, in the Pilbara region which is worth around $150 million.
The projects at Robe Valley, located approximately 140 kilometres southwest of Karratha, will involve:
- construction of roads
- water supply infrastructure and drainage
- bridges and pits
- site establishment and demobilization
- The project’s worth is approximately $150 million, which includes earthworks and civil works linked with the development of Robe Valley;
- CIMIC has a strong track record of delivering significant projects to the iron ore industry;
- The project is expected to be completed by the end of 2021.
CIM’s stock has provided a negative return of 26.07% in the last three months. At market close on 20 December 2019, CIM stock was trading at a price of $34.600, up by 3.16% intraday, with a market cap of around $10.86 million.
Worley Limited (ASX: WOR)
Worley Limited (ASX: WOR) has announced that its long-term engineering and procurement services contract with Imperial Oil Limited and Syncrude Canada Limited has been extended for an additional term of five years. As a result of this, Worley will keep providing Imperial and Syncrude various types of engineering, procurement and project delivery services for brownfield as well as greenfield projects located in Canada.
In addition to this, Worley has been selected by Marathon Petroleum Company LP to provide detailed engineering services for the conversion of the Dickinson refinery, located in North Dakota, to a renewable diesel refinery, marking another example of how Worley is helping its customers meet the challenges of the global energy transition.
In the last three months, WOR stock price has increased by 13.20% as on 19 December 2019. At market close on 20 December 2019, WOR stock was trading at a price of $15.340, down by 1.16% intraday, with a market cap of around $8.08 billion. The stock is trading at a PE multiple of 42.640x with an annual dividend yield of 1.77%.
Sydney Airport (ASX: SYD)
Australia’s one of the biggest Airport, Sydney Airport (ASX: SYD) has reported traffic performance for November 2019.
- The domestic performance, decreased by 0.3 percent on the prior corresponding period, impacted by reduced domestic seat capacity;
- The international passenger has increased by 1.2 per cent compared to previous year same period;
- The fastest growing foreign nationalities for the year to date are Indian (8.5%), American (7.8%) and Japanese (3.6%), representing a real mix of mature and emerging markets
Sydney Airport CEO Geoff Culbert Commented:
“International passenger growth has driven our overall traffic performance throughout 2019 and this trend continued in November”, he further added that “the fastest growing foreign nationalities for the year to date are Indian (8.5%), American (7.8%) and Japanese (3.6%), representing a real mix of mature and emerging markets.
In the last six months, SYD stock price increased by 11.99% as on 19 December 2019. At market close on 20 December 2019, SYD stock was trading at a price of $9.030, up by 1.804%, with a market cap of $20.03 Billion.
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