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

February 03, 2023 06:50 PM AEDT | By Shwetambri Chauhan
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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. 

 


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