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SRG Global (ASX:SRG) - Managing Director, David Macgeorge - The Market Herald
Managing Director, David Macgeorge
Source: The West
  • Construction specialist SRG Global (SRG) has locked in two major construction contracts today, together worth more than $100 million
  • The deals were struck with international construction contractor Multiplex for specialist facade work in Brisbane and with D&C Corporation for structures work in Perth
  • Both contracts will begin immediately, but the Multiplex contract is slated to be finished around March 2023 and the D&C contract around June 2022
  • All up, SRG has locked in $550 million worth of new contracts since the start of July
  • Managing Director David Macgeorge says this represents a period of major momentum for the company
  • Shares in SRG closed over 9 per cent higher this afternoon at a nine-month high of 36 cents each

SRG Global (SRG) has locked in two major construction contracts today, together worth more than $100 million.

Under the deals, the construction company will take on specialist facade work in Brisbane and structures work in Perth.

The first contract is with international contractor Multiplex to complete facade work at the Queens Wharf Residential Tower in Brisbane.

Generally, a facade refers to the front of a building that faces the street — usually given special architectural treatment. In SRG's case, the work includes the design, supply, and installation of engineered curtain wall facades at the Queens Wharf Residential Tower.

The company said the project is set to kick off immediately and will be finished around March 2023.

The second contract was signed with D&C Corporation for the Elizabeth Quay West development in Perth's CBD. This project will also begin immediately and is slated to end around June 2022.

This is the fourth major contract awarded to SRG in the Elizabeth Quay Water Front Precinct.

SRG Managing Director David Macgeorge said the company's ongoing contract wins demonstrate the value of its long-term relationships with some key clients.

"These contract awards are also evidence of our strong technical expertise and 40-year track record of delivering specialist building projects," David said.

He said the company has locked in $550 million in new contracts since July, representing a period of major momentum for SRG.

"Importantly, the contract wins are being achieved across a diversity of sectors and geographies, positioning SRG Global well for long-term, sustainable growth," he said.

Investors were impressed with today's contracts, with SRG shares tacking on 9.23 per cent to close at a nine-month high of 36 cents each.


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