Enesar to sweeten Coffey earnings

COFFEY International says its $2.8 million acquisition of environmental planning consultant Enesar Consulting will expand its sustainable planning services offering and boost profits.

Emily Roberts

Melbourne-based Enesar held a dominant position in environmental planning for the infrastructure, industrial, oil, gas and mining markets worldwide, said Coffey.

According to managing director Roger Olds, the acquisition is expected to add about $4.5 million per annum in turnover, and earnings before interest, taxes, depreciation and amortisation (EBITDA) of 15-20%.

"All major infrastructure projects now need an environmental impact statement and this is a specialist area of Enesar," he said. "We are planning to expand Enesar's operations nationally and increase its market share in this extremely critical aspect of project approvals."

Olds said there was no immediate plans to integrate Enesar's operations into Coffey's other consulting arms.

Last month, Coffey upgraded its profit forecast for the current financial year, citing strong performances from core business sectors as factors in the improved outlook.

ConstructionEquipmentNews.net.

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