Australia's NRW Holdings seeing higher topline on recent contract wins - Citi
Jul 17, 202312:52 GMT+8
** Brokerage Citi says topline visibility for NRW Holdings is better than ever before after a string of recent contract awards
** NWH says its unit executed a contract with Toowoomba Regional Council valued at circa A$113 mln ($77.01 mln)
** Order book for FY24 covers vast majority of expected revenue for the year - Citi
** Brokerage perceives NRW as its most preferred pick in contractor coverage heading into the reporting season
** Forecasts Civil EBITA margin to reach 4.1-4.2% by FY24 and FY25, respectively
** NWH shares are up 1.2% so far
** Stock down ~10% this year as of last close
($1 = 1.4674 Australian dollars)
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