Watpac wins $132 million worth of projects

Watpac Limited (ASX: WTP), one of Australia’s leading contracting businesses, has been awarded approximately $132 million worth of projects in the quarter ended 30 September 2010, maintaining the Company’s work in hand at $1.4 billion.

Greg Kempton, Watpac Managing Director, said winning such a large number of projects in a short period of time was indicative of the Company’s strength.

“The scope of these projects range from small car park redevelopments right through to major mining and construction contracts, showing the depth of skill and diversity Watpac has to offer our clients,” Mr Kempton said.

“These projects also demonstrate that both the public and private sectors have confidence in Watpac’s ability to deliver high-quality projects on time, on budget, and to the highest standards of safety and environmental management.

“We are delighted to be able to report our most recent successes to shareholders, and we are looking forward to being able to detail more project wins at our upcoming Annual General Meeting.”

The projects follow Watpac’s strong end-of-year results, released in August, that included an increase of 232 per cent in net operating profit before tax, and a fully franked dividend for the year of 11 cents per share.

A list and description of the work won in the last quarter can be viewed on the ASX website or at www.watpac.com.au.

Note to editors:
Watpac is an ASX-listed company specialising in construction, civil engineering and mining, specialty services (including refurbishments), and property development. We have offices in Brisbane, Townsville, Sydney, Melbourne, Adelaide, and Perth. More information can be found at www.watpac.com.au.

Watpac’s 25th Annual General Meeting will be held on Thursday 21 October at the Stamford Plaza, Brisbane.