In today's ann BRS confirm they have resigned an agreement to maintain 130 public facilities (eg schools, TAFE etc) for NSW govt. Starting 01/07/16 new contract is for 12 months with 6 months extention if required during re-negotiations.
Much more important is news that the contracted order book for FY17 in now 2.9Billion. That's an increase of 600m or 26% from the already substantially higher figure released at end of GY15.
Previously BRS estimated EBITDA for FY17 at 265 - 285m. In January this was revised to 280 - 300m. The additional revenue now makes that look conservative. EBITDA for FY17 could easily be in the 300m - 330m range. Not bad from the 258 m in the yr end report for FY15.
BRS in a strong position/situation esp as POO has started moving along with other commodities. I'll redo my forecast EPS estimates later today but this sucker def underpriced. Did i mention the buyback due to start anyday?
In today's ann BRS confirm they have resigned an agreement to...
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