Valmec order book lifts to $215m

Energy services group Valmec has secured $30 million of work with the likes of CBH Group, Australian Gas Infrastructure Group, and Arrow Energy.

Those contracts, which will involve an array of mechanical, electrical, construction and engineering works, bring the total value of the company’s order book to $215 million.

Today’s announcement comes after Valmec’s first-half results indicated the group’s underlying earnings were to grow to $6.1 million at the same time as its total revenue was set to decline to $61 million.

Managing director Steve Dropulich said Valmec had started the year in its strongest position and that the company would look to expand its reach into the Northern Territory and Queensland.

“We are very pleased to continue this momentum into 2021 and look forward to providing our in-house expertise services to CBH Group, Australian Gas Infrastructure Group and Arrow Energy,” he said.

Valmec was trading at $0.26 per share as of 2pm AEDT.