Seymour White announced on Thursday afternoon that it had been awarded a $42 million contract to complete road works associated with the construction of the Gold Coast light rail system. This builds on the company’s strong position in Queensland and New South Wales.

The company’s share price has responded positively to the news, and it is now trading close to its all-time high of $1.49 that was reached in September. Seymour White listed on the ASX in May at an issue price of $1.10. The company has traded above that level since mid-July and after delivering a strong result for 2010-11 its share price increased by approximately 20 per cent.