GR set to open at big premium
GR Engineering Services is due to commence trading at 2.00pm AEST on Tuesday and its shares are likely to be well sought after.
GR Engineering Services is due to commence trading at 2.00pm AEST on Tuesday. Shares in the Perth-based engineering and construction company, which boasts a strong list of past and present clients, including Barrick Gold, Xstrata Nickel, Newmont Mining and Western Areas, is likely to be well sought after.
The company has established a strong record in the mining services sector, having been involved in projects that involve precious metals, base metals and iron ore. While GR Engineering was only founded in October 2006, the company has performed strongly, with earnings before interest and tax increasing from $12.6 million in 2007-08 to $23.7 million in 2009-10.
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