Abigroup Limited

By Intelligent Investor · 1 Nov 2002

By Intelligent Investor ·
1 Nov 2002

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Abacus Group - ABG

Current price

$1.16 at 16:30 (24 April 2024)

Price at review

$2.19 at (01 November 2002)

All Prices are in AUD ($)

Shares in this construction company have sagged a little since our last review but some great news was released recently. Abigroup (along with Leighton Holdings) has been named the preferred tenderer for the $1.5bn Western Sydney Orbital motorway. The joint Abigroup/Leighton Holdings consortium will see each partner receive $750m for the design, construction and maintenance of a 40km, four lane motorway in Sydney's west. However, the contract will not have an impact on profits until the 2004 financial year. Despite this the company believes it has enough work in hand to deliver respectable revenue and profit growth in 2003 and beyond. With a number of other potential contracts still in the pipeline, we reiterate our LONG TERM BUY.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Abigroup Limited

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Abigroup Limited

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