The Directors of GR Engineering Services Limited (ASX: GNG) (GR Engineering) are pleased to advise that full year revenue guidance for the year ending 30 June 2021 (FY21) is forecast to be in the range of $340 million to $360 million.
GR Engineering had previously advised that FY21 revenue was expected to be $280 million to $300 million.
Commenting on the improved revenue guidance, Mr Geoff Jones, Managing Director said:
“GR Engineering has been able to build on its strong finish to FY20 and is forecasting record revenue for FY21 with improved EBITDA margins. The pipeline of ongoing and near term prospective projects remains solid and provides revenue and earnings visibility beyond FY21. The balance sheet has been strengthened and this has been underpinned by strong cash generation in the first half of FY21.”
GR Engineering is intending to release its results for the six months ended 31 December 2020 on 24 February 2021.
Ends.
ASX Release
About GR Engineering
GR Engineering specialises in providing fixed price engineering design and construction services to the global resources and mineral processing industries. GR Engineering has a proven track record of delivering integrated project solutions in over 20 countries across all major commodity types. As a group, GR Engineering employs more than 500 professional, technical and support staff throughout Australia and internationally, in addition to a direct construction workforce and subcontracted personnel.
GR Engineering Services Limited is listed on the Australian Securities Exchange (ASX: GNG).
For further information please contact:
Geoff Jones
Managing Director
+61 8 6272 6000
geoff.jones@gres.com.au
Omesh Motiwalla
CFO & Company Secretary
+61 8 6272 6000
omesh.motiwalla@gres.com.au
Follow GR Engineering on LinkedIn.