Engineering and construction contractor Monadelphous Group's shares rose nearly 10 per cent today, after the company reported a 14 per cent increase in annual profit and foreshadowed a strong pipeline of new work.
Managing director Rob Velletri said there had been an unprecedented level of tendering activity in the past few months.
"We are confident of securing a number of significant opportunities in the first half of the new financial year which will underpin strong ongoing revenue flows," Mr Velletri said in a statement.
"Timing of projects remains a risk in the short term."
Among the prospective projects are construction and maintenance services opportunities in iron ore, coal and liquified natural gas (LNG) developments in Western Australia and Queensland, Mr Velletri said.
Monadelphous has signed contracts worth $350 million since the end of June, and won around $650 million in work and extensions in the year to June.
The company's net profit for the year to June 30 was $95.1 million, up from $83.2 million in the previous corresponding period.
Monadelphus shares gained $1.63, or 9.4 per cent, to close at $18.95.
The market overall was about two per cent higher .
Sales revenue increased 13 per cent from the the previous year to $1.45 billion, and earnings rose by 19 per cent to $153.3 million.
Monadelphous's engineering construction division delivered a 10 per cent rise in sales revenue due to a "healthy workload", the company said.
It provides engineering construction services on Woodside's Pluto LNG project, and works on other projects owned by Rio Tinto and BHP Billiton.
Monadelphus's maintenance and industrial services division grew sales revenue by seven per cent, and won new work with Queensland Alumina and Rio Tinto.
Monadelphous's infrastructure division was established in the 2010/11 financial year and generated sales revenue of $157.8 million.
The company declared a final dividend of 55 cents per share, fully franked, up from 48 cents at the same time last year.