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British consultancy firm Sweett Group (LSE:CSG) announced they had been awarded a contract by the Australian Department of Defence in the value of £80 million, which caused shares to climb more than 12% by mid-day trading in London.
The Contract
The new contract is an addition to Sweett Group’s portfolio in Australia, which includes the Defence Plaza Melbourne, Londonderry RAAF Receiving Station, and the Australian Defence Force Centre for Mental Health at HMAS Penguin.
Sweett Group, which specialises in property and infrastructure professional services, won the bid to provide project management and contract administration services in the redevelopment of Her Majesty’s Australian Ship Watson maritime warfare facility.
HMAS Watson is a premier Royal Australian Navy maritime warfare establishment that provides basic and advanced training to sailors, including ships handling, navigation, tactics, weapons and sensors training, and planning and staff skills.
“Today’s appointment is an exciting opportunity for us to further enhance our relationship with one of our key clients in the region,” saidSteve Carter, Regional Director and Defence Sector Head of Sweett Group in Australia.
Sweett Group will manage the redevelopment, which include demolition of existing infrastructures and building new ones, as well as refurbishment and upgrade of existing training and administration facilities. HMAS Watson will also have a base-wide service and infrastructure upgrade.
An integrated quantity surveying services will also be provided by Sweett Group during the developmental phase, which the Australian Government scheduled to be finished within 2 years, and a delivery phase in another 3 years.
Highest Level of Detail
Mr. Carter, in acknowledging the merits of the contract and highlighting the expertise of the company, commented at length:
“Due to the critical training activities that take place at HMAS Watson, it is vital to the future operational capability of the Royal Australian Navy that this project is not only planned and programmed with the highest level of detail, but also delivered in a manner which does not impact on the base’s operational capability, a project requirement Sweett Group is highly experienced in managing with our large base of projects in highly operational facilities throughout Australia.”
Company Spotlight
Sweett Group is a UK-incorporated company and its shares are quoted in the Alternative Investment Market of the London Stock Exchange in 2007.
The company has a network offices across Asia, America, Australia, Europe, and Middle East providing cost management, programme and project management, strategic advisory and PPP/PFI investment and consultancy services.
At 12:30 PM GMT, Sweett Group traded at 24 pence a share, up by 2.75 pence the day before.
References
↑ HMAS Watson Profile
↑ Sweett Group Investor Relations
↑ Sweett Group Operations
