AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
NRW Holdings Limited (ASX:NWH) provides civil contracting services including rail formation, bulk earthworks, mine development, road and tunnel construction and a range of contract mining services.
The company has stated through a release on the exchange that following to the ASX announcement that was made on the 31st January 2019, it has completed the acquisition of RCR Mining and RCR Heat Treatment from the Administratorsâ of RCR Tomlinson Limited.
The RCR Mining and Heat Treatment businesses which operate from primary locations at Welshpool and the regional centre of Bunbury together with a facility in Victoria will continue to be supported by the ~300 employees who have received offers of employment with NRW. Â This acquisition is anticipated to increase the earnings & the purchase consideration of $10 million which is being funded from the companyâs cash reserves.
Jules Pemberton, the companyâs Managing Director and Chief Executive Officer commented that this acquisition delivers a complementary business to the company and aligns with the firmâs strategy to broaden the service offering to Tier 1 clients at a time of improving market sentiment.
RCR Mining includes RCR Mining Technologies, which is a brand recognised in the global market as a leading original equipment manufacturer (OEM) and innovative materials handling designer with an extensive product range. Since the announcement, the firm has received very positive engagement from clients who recognise the quality of the RCR Mining Technologies business and its people, together with the benefits the combination with the company brings to their project objectives.
In another announcement on ASX, the company has informed that it has been awarded a contract for FMGâs Eliwana rail project Stage 1, which is having a final contract value of $62 million.
For the year ending 30 June 2018, the company delivered $754.3 million in revenue, which is double that of the previous year and grew the order book to a record $2.2 billion in July 2018. Net profit after tax increased by 48% from the last year to $42.2 million. The Civil business reported growth in revenue to $311.3 million compared to $103.9 million last year as a consequence of both an increase in project activity and the acquisition of Golding. Earnings also improved to $17.8 million.
Now, let us have a quick look at NRW Holdings Limitedâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $1.995, trading down by 0.25% during the dayâs trade with a market capitalisation of ~$751.78 Mn. The counter opened the day at $2.010, reached the dayâs high of $ 2.035 and touched the dayâs low of $ 1.970 with a daily volume of 724,002. The stock has provided a YTD return of 25% & also posted returns of 17.99%, 19.05% & 10.50% over the past six months, three & one-months period respectively. It had a 52-week high price of $2.170 and touched 52 weeks low of $ 1.160, with an average volume of 1,363,889 approximately.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice
