ECT 0.00% 0.1¢ environmental clean technologies limited.

still looking great

  1. 5,609 Posts.
    The market is not interested. This stock should be trading in the 50's.

    I dont see anything that indicates i should sell.If anything its a buy!

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    Environmental Solutions saturates order book
    3/10/03 By: Rikki Bannan

    Environmental Solutions International (ESI) today announced a substantial increase in its order book to the tune of $13 million after finalising two new contracts with Yarra Valley Water and Melbourne Water. Today’s development pushes the total value of the company’s order book to over $74 million.

    The waste treatment company also announced that they had reached preferred tender status on two further contracts in South Australia and NSW valued at $16 million.

    Environmental Solutions managing director Denis Glennon noted the significance of the contracts in terms of the company’s future performance.

    “These additional contracts should underpin a much improved performance in the 03/04 and 04/05 financial years. We have the strongest forward order position in the company’s history,” he said.

    Environmental Solutions reported a net loss of $2.9 million in FY03, which marked a $4.2 million drop from the previous years result. The company attributed the loss to a delay in the award of new contracts.

    Mr Glennon also commented on the growth in demand for the company’s services over the past year.

    “Our expertise and access to technology have us well positioned in the expanding drinking water and wastewater reuse markets and we continue to expect strong demand for our services from all levels of government and the private sector”, he said.

    In July this year, in a joint venture with Tenix Alliance, the company was awarded a contract by Bega Valley Shire Council (NSW) for the upgrade of 5 sewerage treatment plants and the construction of 5 new sewerage schemes. The overall value of the contract was $58 million in addition to operations and maintenance of all plants over a 15-year period.

    Furthermore, in April, Environmental Solutions was contracted by Lower Murray Water to design and build a new potable water plant incorporating advanced treatment facilities to control taste, odour and algal microorganisms. The contract also included the construction of new pumping stations, a new rising main pipeline and water storage tanks in Mildura, and was valued at around $11 million.

 
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