what is happened today, page-76

The board also stated it is “aware of an article that appeared in The Australian Financial Review on 10 June 2021 speculating about Service Stream’s potential involvement in a sale process in relation to the services division of Lendlease Corporation Limited”. The company reiterated that it considers external growth opportunities, but was not in a position to comment about speculation on specific businesses which might be under assessment.Management wrote that it is “acutely aware of the fall” in the Service Stream share price, stating the company remains focused on its fundamental business model. That includes diversifying its revenues from the current bias towards telecommunications across broader essential infrastructure.In an update on its utility business segment, the company stated it expects approximately 10% revenue growth from Comdain. That’s below the 15% growth it forecast at the half-year, largely due to floods and rain along the east coast delaying some project works. It said Comdain has a “strong backlog of secured work” heading into the new financial year.Revenue from Service Stream’s telecommunications segment is down, following the completion of the national broadband network construction operations in the 2020 financial year.Service Stream share price snapshot