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.
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.”