GCS wins $75m Fiona Stanley contract

Redcliffe-based Global Construction Services has lifted its order book to more than $115 million after it today secured a $75 million formwork and concrete contract with Brookfield Multiplex for work at the Fiona Stanley Hospital.

Under the contract GCS, through its formwork subsidiary CASC, will provide formwork and concrete installaton over a two-year period, starting in March next year.

GCS group managing director Enzo Gullotti said the contract represented a major boost for GCS and the CASC business.

"We're delighted to have been successful in our bid to Brookfield Multiplex on one of the largest Government infrastructure projects in WA," said Mr Gullotti.

"Revenue will be booked in the next three financial years, FY10-FY12, providing GCS with an outstanding platform to drive strong growth over the period."

The $1.76 billion Fiona Stanley Hospital at Murdoch is due to be completed in 2013 and opening a year later.

GCS said in a statement that confirmation of the Fiona Stanley Hospital contract comes as the company starts to see some positive improvement in business conditions after a mixed start to the 2010 financial year.

GCS has previously reported that the first half of 2009/10 has seen reduced turnover and tougher margins, however, it expects to deliver a full year result in line with expectations with a stronger second half anticipated.

Work on other GCS contracts is progressing well, including the $24 million City Square development contract in Perth and the $18 million Claremont Quarter project.

Shares in GCS were unchanged at 95 cents at 11:14 AEDT.