Macmahon Holdings Limited (AU:MAH) has released an update.
Macmahon Holdings Limited has secured another term as the mining contractor at Dawson South project in Queensland, with the contract contributing about $130 million annually to Macmahon’s order book for up to three years starting July 2024. The deal follows a recent strategic move by Macmahon, having sold its Dawson South equipment fleet, which will continue to be used on-site, aligning with the company’s capital light strategy and goal of improving return on average capital employed (ROACE). CEO Michael Finnegan expressed satisfaction with the new contract structure, which is expected to benefit both Macmahon and their client while enhancing the company’s financial performance.
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