As I mentionedlast week, Southern Cross Electrical Engineering appeared to have turned the corner after a disappointing 2010-11 performance and that there was a strong likelihood of a good flow of contracts that had the potential to provide positive share price momentum .

Following Southern Cross’s appointment as a preferred contractor by Rio Tinto to provide electrical and instrumentation work at its Cape Lambert project for the next five years the company’s forward revenue outlook appears much more promising. On Monday afternoon, management said it had been awarded a contract worth more than $15 million by Rio Tinto.