Sponsored

Saunders (ASX:SND) announces new contracts worth AU$18M, shares gain ~12%

February 03, 2023 02:50 AM EST | By Shwetambri Chauhan
 Saunders (ASX:SND) announces new contracts worth AU$18M, shares gain ~12%
Image source: Saunders

Highlights

  • Saunders shares have gained 11.6% since the release of company update on new contracts on 2 February 2023.
  • The contracts valued at AU$18 million relate to the oil, water, and energy sectors.
  • The company highlights that these projects will contribute to its revenue and earnings through FY23 and into FY24.

ASX-listed engineering and construction company Saunders International (ASX:SND) has made an announcement regarding the award of new contracts worth approximately AU$18 million. The company has been awarded these contracts in the oil, water, and energy sectors. 

Saunders -- a multi-discipline engineering and construction company operating in Australia and the Pacific Region -- has stated that the contracts would contribute to the company’s earnings though the present and next fiscal year. 

Saunders is engaged in providing design, fabrication, construction, shutdown, maintenance and industrial automation services to the oil & gas, infrastructure, water, power, energy, mining & minerals and defence sectors.

Contract wins worth AU$18 million

New project awards include:

  • Design and construction of a 2 Megalitre column supported tank for Fulton Hogan in the water sector, VIC.
  • Design and construction of two diesel and two water tanks for UGL for a new Power Plant project, NSW.
  • Mechanical modifications, supply, and installation of two aluminium geodesic dome roofs at BP’s Bulwer Island fuel terminal, QLD.

Saunders is set to release its FY23 half year results on 24 February 2023.

Shares gain nearly 12% following release of information on new contract wins

Saunders shares have gained 11.6% since the release of announcement on 2 February 2023. The share price was noted at AU$1.250 on 3 February 2023. The shares have appreciated nearly 31% in the last six months. 

 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.


Canadian AI All-Stars: Unveiling the Top Stocks for 2025

Send OTP Resend OTP in 30s

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.