Abigroup secured $3.2 billion of new work in the first nine months of 2009 despite the impact of the Global Financial Crisis (GFC) and the company’s volume for this calendar year will again hit the two billion dollar mark.
Writing in November’s issue of Abigroup’s quarterly newsletter Blueprint, the company’s Managing Director David Jurd said the company is poised on the edge of great growth.
“The market has bottomed out and there are significant opportunities in the pipeline,” he said.
“In the nine months to September we have secured $3.2 billion of new work, a staggering result given the economic climate.
“This work, together with emerging new opportunities in areas like renewable energy, means that Abigroup can look forward to an exciting and prosperous future.”
David said it was remarkable how the situation had changed since the start of the GFC.
“At the start of the GFC, just over a year ago, we were staring into the abyss. The private building market had collapsed and we were facing a big hole in our business.
“Yet here we are one year on and our volume this calendar year, with a full twelve month GFC impact will again hit the two billion dollar mark, a fantastic result.”
David attributes this result to two main factors: the Government’s economic stimulus measures and to Abigroup’s diversity.
“What has helped our building business has been the Federal Government’s Building Education Revolution (BER) initiative which has led to Abigroup securing contracts worth over $300million to upgrade schools in NSW, Victoria and Queensland.
“On the engineering side we’re bidding large rail and road projects in Victoria and NSW and we’re currently working on flag-ship projects like the Gateway Bridge upgrade in Queensland and the Adelaide Desalination plant.
“The desalination plant project is a good illustration of why we’ve not suffered as much as we could in the GFC.
“What we’ve done is diversified into new businesses and new locations to help escape from the traditional boom and bust construction cycle. The desalination plant is one of several large projects currently involving our water business and we also have our telecommunications and mining services businesses as well as new offices in Tasmania, Western Australia and South Australia.
“We’re also always looking for new business opportunities. What we know is that if you stand still in this business you get run-over!”
Read the latest issue of Blueprint.