When administrators from Deloitte walked into the West Perth offices of WBHO Infrastructure in February, they knew speed would be critical to rescuing the business.
Decmil has further reduced its expected revenue but is set to bounce back in the new financial year, ending a difficult few months by announcing $137 million in new contracts.
Our board moves wrap includes Nicholas Katris, Michael Naylor, Kenneth Williams, Mark Connelly, Richard Crookes, Matt Freedman, Andrew Denniss, Dickie Dique, Ashok Parekh, Jon Price, Sam Pazuki, Ian Murray, Mick Wilkes, Robert Stockdale, Mathew Longworth, and Dale Schultz.
Our board moves wrap includes Malcolm Randall, Alexander Molyneux, Bruce McFadzean, Peter De Leo, Dean Felton, Vin Vassallo, Dickie Dique, Ed Mason, Tony Ho, Simon Cato, Terry Holohan, Stuart Gale, and Peter Hatfull.
Shares in Decmil fell 11 per cent after posting a $3.9 million loss for the half-year, alongside a lift in revenue, as the company picks up more work but grapples with labour availability and contract disputes.
Contractor Decmil has completed its works on the Sunraysia solar farm in NSW, which were at the centre of a legal dispute with part-owner Maoneng Australia.
Osborne Park-based Decmil Group has cited delays in the awarding of contracts and project starts in lowering its full-year revenue guidance, but predicts a stronger result in fiscal 2022.
Shares in Decmil have lifted 6 per cent after the Perth company announced its second contract win for the year, for works on a major highway in Queensland.
Perth-based Decmil Group has added $140 million to its order book after securing the works to upgrade a rail line in Victoria, as part of a consortium.
Valmec has won a major asset services contract, while Centurion has secured mine site works in Queensland and Decmil has been named preferred contractor for a Victorian rail project.
Contractor Decmil has posted a $140 million loss for the 2020 financial year, primarily due to the earlier termination of a major contract with the New Zealand prisons department.
Shares in Decmil dropped by more than 50 per cent today after the engineering and construction company completed a heavily discounted rights issue, which is part of a broader $50 million capital raising plan.
Decmil has appointed current executive director Dickie Dique as chief executive, replacing Scott Criddle who will remain with the company as an executive director.
Engineering and construction company Decmil has replaced Scott Criddle as chief executive, amid a $29 million write-down of its Homeground Gladstone accommodation village in Queensland and the launch of a $40 million capital raising.