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Business Description: NRW Holdings Limited (NWH) provides diverse range of specialist services to the mining and resources sector. NRW operates in 4 business units, being NRW Civil Contracting, NRW Mining Services, Action Drill and Blast services and Action Mining Service. The company conducts operations in Western Australia, the Northern Territory, Queensland and Guinea, West Africa.
Strategy Analysis: In order to diversify away from its traditional WA iron ore exposure, NWH is looking to expand geographically both in Australia and offshore. It has a small presence in Africa. The company is also expanding into east coast coal and seeking opportunities in oil and gas infrastructure projects. Success in winning a major coal contract at Middlemount in Queensland is a major step in this expansion plan. This has been followed by success in winning a civil contract for the Wheatstone LNG project. Traditionally NWH has had a relatively short order book, but is focusing on lengthening the term of its contracts. It has a number of long-term framework agreements in place with some of the major miners.
NRW Holdings reported NPAT up 7.2% to $48.58m for the half-year ended 31 December 2012. Revenues from ordinary activities were $810.7m, up 32.8% from the same period last year. Diluted EPS was 17.7 cents compared to 16.2 cents last year. Net operating cash flow was $133.64m compared to $113.9m last year. The interim dividend declared was 8 cents compared with 8 cents last year. The company expects its full year revenue to be $1.4 to $1.5bn, pending timely award and commencement of contracts during the remainder of 2HFY13. The corresponding NPAT margin is expected to be 6%. With a current order book of $1.35bn, the company anticipates solid conversion of a potential $4.0bn of work tendered across the Civil, Mining and Drill and Blast divisions during the second half. This will continue to strengthen the order book into FY14 and FY15.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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