Brierty wins $35m worth of contracts

Civil contractor Brierty has secured more than $35 million worth of contracts with long-term customers, including Fortescue Metals Group and Main Roads WA, during the September quarter.

The announcement is below:

Civil contractor Brierty Limited (ASX: BYL) has secured in excess of $35m in additional contract works with long term customers in the first three months of FY10. The contract wins follow Brierty's strong full year performance for the 2009 financial year, which saw a strong rebound in profitability.

The newly secured works will be delivered in the current financial year and revenue will contribute to Brierty's growth as business activity increases across all of the Company's targeted sectors.

Brierty CEO Stuart Crofts said the recent wins reinforced the strength of Brierty's customer relationships.

"Brierty has a proven track record of securing additional and repeat work from our existing long standing clients. Our robust customer relationships built over many years in the industry are a major advantage in the current competitive market place," Mr Crofts said.

The first of the projects secured, with long standing customer Main Roads WA, is as an extension of the ALine East Alliance contract. Additional funding of $11m for the A-Line East Alliance brings the total contract value of the project to $64m. The main focus of the works is the upgrade of the Great Eastern Highway running through the town of Kellerberrin, delivering a safer road for the community and users of the highway.

Brierty's solid relationship with Fortescue Metals Group continues and has resulted in two additional contracts being awarded to Brierty, including a Pit Embankment Extension at the Cloudbreak Mine and the construction of an access road near Anderson Point.

In addition, Brierty has seen increased activity in WA's land development market and has recently secured a number of smaller projects in the residential land development sector with existing customers.

Mr Crofts said Brierty remained confident about its business model and prospects in the short to mediumterm, and remained focused on growing the business. Brierty's contract win rate is consistent with previous periods.

In other developments, Brierty recently appointed Mr Mark Braghieri as Mining Manager. Mr Braghieri has 20 years of experience in the mining industry from a range of open pit and underground operations at various mineral processing and fixed plant operations.

Mr Crofts said Brierty's management team is successfully implementing the firm's long term business strategy, which includes maintaining a balanced portfolio of projects across the construction and mining sectors.

"We have built an excellent platform for future growth and are well placed to take advantage of the improving business conditions," Mr Crofts said.