Sedgman also successfully converted two projects identified in its April prospectus as “high probability” into contracts, with the Acland upgrade for New Acland and the Sonoma project for Q Coal, which have a combined revenue in excess of $105 million.

 

Revenue from Sedgman’s operations business grew considerably registering a 52% increase to $18.5 million, which was boosted by full-year operations at Rio Tinto’s Blair Athol mine.

 

“We have demonstrated that we have the resources and capabilities to undertake projects of an unprecedented scale in the Australian coal industry, both in terms of size and complexity,” Sedgman managing director Peter Hay said.

 

He said Sedgman was widely recognised as one of the few coal industry participants able to offer the full spectrum of services from resource assessment, engineering design, construction and operations.

 

“The outlook for Sedgman remains positive with growth in the buoyant Australian coal market continuing to deliver opportunities for the company to geographically diversify through new coal developments, capacity upgrades and refurbishments of existing CHPPs,” the company said.

 

Global demand for operations services continue to be driven by robust industry expansion and the increasing trend towards the outsourcing of operations and maintenance by coal developers.

 

Brisbane-based Sedgman is currently negotiating with Excel Coal to operate its Millennium CHPP and with Q Coal to operate the Sonoma CHPP, once it is commissioned by Sedgman.

 

The company said it would also focus on international growth opportunities, and lever its relationship with Thiess to capitalise upon the coal industry expansion in India.

 

The company will also seek to penetrate additional markets through geographic acquisitions.

 

Sedgman listed on the Australian Stock Exchange at a 35% premium on June 8 this year. It closed at $1.50 yesterday.