Perth contract wins attention for Global Construction
Global Construction Services’ share price implies a price-earnings multiple that is significantly below the industry group average. While some discount is justified given the relatively small size of the company compared with most of its peers it appears overdone
The award of a $10.4 million contract to Global Construction Services (GCS) sparked some interest in a stock that has been sold down substantially in the last 12 months.
The contract incorporates formwork and concrete construction for an office tower in Perth’s CBD. But it is not so much the size of the contract or the nature of the work that is important, rather the fact that the company has demonstrated its potential to successfully compete for work in the commercial sector.
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