GEORGIOU SETS UP FY21 WITH SUSTAINABLE WORK IN HAND
National building construction and civil engineering company Georgiou Group has today released its financial results for the 2020 financial year, with the company announcing 85% of their work-in-hand for FY21 already secured.
National building construction and civil engineering company Georgiou Group has today released its financial results for the 2020 financial year, with the company announcing 85% of their work-in-hand for FY21 already secured.
Operational highlights
The company’s revenue of $608 million (FY19: $487 million) can be attributed to improved revenue across all civil infrastructure business units.
Overall, the company delivered another solid performance and is well-placed given the current work in hand, delivery capabilities and tender pipeline.
“Our tendering pipeline remains healthy across our entire business with the exception of non-government building construction due to reduced commercial development. Tender opportunities in the transport sector road and rail remain positive with a number of government infrastructure projects being fast-tracked and utilising partnering style contracts to accelerate delivering,” explains CEO Rob Monaci.
“Georgiou’s improved work-in-hand along with a healthy pipeline of opportunities for future work provides the opportunity for the Company to select projects which better suit our resources and capabilities.
“Georgiou’s FY20 profit (PBT) was $9.5 million and current work-in-hand is circa $800 million with recent project awards in Queensland and WA.”
“This would not have been possible without our great team who responded to COVID-19 despite the significant disruption to their home and working lives, and remained committed to delivering great infrastructure that keeps people moving.”