Shares in Decmil have lifted 6 per cent after the Perth company announced its second contract win for the year, for works on a major highway in Queensland.
Shares in Decmil Group have lifted 6 per cent after the Perth company announced its second contract win for the year, for works on a major highway in Queensland.
Decmil will undertake road widening works and safety improvements on the 1,700-kilometre Bruce Highway, from Gin Gin to Benaraby, under a $25 million contract with Queensland’s Department of Transport and Main Roads (DTMR).
The scope of works includes earthworks, minor drainage repairs and enhancement, pavement, line markings, signage, safety barriers and landscaping.
Decmil will also be responsible for streetlighting works.
The contractor is currently undertaking about $13.5 million in work on the highway, from Calliope River to Mt Alma, under a separate contract.
Chief executive Dickie Dique said Decmil had delivered a number of projects for DTMR.
“It [the new contract] demonstrates our operational efficiency and our growing ability to capitalise on the buoyant pipeline of infrastructure projects in Queensland and Australia more broadly, as our business revitalisation strategy progresses,” he said.
Decmil’s new contract follows $140 million in regional rail line upgrades in Victoria, awarded to the company at the start of the week – marking its first major contract for the year.
Today, Decmil also announced executive director and acting chief financial officer Peter Thomas will begin his transition to non-executive director on April 27.
Mr Thomas was appointed as acting CFO one year ago, around the time Decmil began a board renewal process that also involved the resignation of former CEO Scott Criddle.
Alex Hall will assume the role of CFO after working more than 13 years with NWR Holdings as group financial controller.
Meanwhile, Alison Thompson will resign as company secretary on March 31.
She will be replaced by Ian Hobson, who is both a chartered accountant and secretary with more than 30 years’ experience.
Decmil shares closed up 6.3 per cent to trade at 59 cents.