A $5 million Department of Defence procurement contract update for works at HMAS Stirling spurred Duratec shares almost nine per cent higher in early trade today.
Engineering firm Duratec has bought out Canning Vale-based industry peer EIG Australia in a deal worth $9 million, in a move to boost its fuel and electrical infrastructure offerings.
Wangara-based contractor Duratec Australia has its sights set on further growth during the 2025 financial year, following the release of its annual guidance on Friday.
A joint venture between Duratec and Ertech will carry out $10 million worth of infrastructure planning work for the Department of Defence at HMAS Stirling on Garden Island.
Following record revenue during the 2024 financial year, Duratec Australia has secured a structural integrity project from Rio Tinto, under an existing master services agreement.
Shares in Wangara-based contractor Duratec Australia dipped early following news it had revised its annual guidance for the 2024 financial year, citing delays in the tender process for several projects.
Diversified Perth-based contractor Duratec says it is well positioned for further growth after reporting a 56 per cent net profit increase for the first half of the 2024 financial year.
Wangara-based contractor Duratec has launched Western Australia's largest initial public offering this year, adding to a flurry of WA companies aiming to list on the ASX.
