27/06/2013 - 14:48

Diploma gains on contract wins

27/06/2013 - 14:48


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An artist's impression of the completed Perry Lakes development.

Construction and development firm Diploma Group has announced $21 million worth of new contracts, for a residential project in Perry Lakes and a Dan Murphy’s liquor store in Kwinana.

Diploma said today it had signed formal documentation with TRG properties to construct a three-level, 33 apartment project in Perry Lakes, which will be known as Podium.

The development is expected to be complete by June 2014.

The contract is the second significant package of works Diploma will undertake for TPG, following a $35 million deal for the Ocean Edge development at Port Coogee.

Also today, Diploma said it had won a $3 million deal with Woolworths to build a Dan Murphy’s store in Kwinana.

The contracts take Diploma’s order book to $260 million in works scheduled to be completed over the next 18 months.

“With the medium to high density residential market remaining buoyant in Western Australia, the company expects to secure additional opportunities over the coming six months,” Diploma said in a statement.

Diploma shares enjoyed a 17.5 per cent gain on today’s announcements, to 4.7 cents.


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