UXC wins three new contracts worth $19.5M, forecasts strong revenues

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UXC wins three new contracts worth $19.5M, forecasts strong revenues

Australian technology services company UXC won three new contracts valued at $19.5 million. The service provider has also narrowed its guidance on revenue expectations for the 2008 Financial Year (FY) from $500 million to the mid $500 million mark.

The announcement at the company’s AGM follows the company’s record FY07 financial performance and an unbroken run of growth in revenue, earnings and EPS while operating in its current format since 2001.

The ASX-listed service provider’s executive chairman, Geoff Lord, said that UXC’s Field Solutions Group (FSG) new contracts, coupled with continued strong performance across the business means UXC will carry a strong earnings momentum into the first half of FY08.

UXC has achieved strong organic growth over the past year in its two major groups: Business Solutions Group (BSG) and Field Solutions Group (FSG). BSG provides market leading Information and Communication Technology solutions and services to government and major corporates. FSG provides asset and data management to utilities as well as water conservation, energy saving and other environmental solutions.

At the AGM, held on the 23 Novemeber, Lord outlined announced three new contracts, which were in the environmental solutions sector and include; Queensland Local Government Infrastructure Services – an extension of the contract for Home WaterWise Service for South East Queensland to provide water conservations services to households; EnergyAustralia – a new contract to install energy and water saving devices into Department of Housing homes in Newcastle and the Central Coast of NSW; and EnergyAustralia’s Energy Saver program – will engage UXC to conduct energy efficient reviews in households and provide water and energy saving devices to up to 75,000 homes in NSW.

“We are also nearing completion of our accreditation to participate in the Australian Government Department of Environment and Heritage Green House Friendly and Greenhouse Challenge Plus programs,” said Lord.

He expects the strong IT spending environment to continue across government and industry sectors.

Lord said, “We are confident in our continued ability to meet demand in the rapidly evolving environmental solutions market and to maintain our innovation in developing new solutions in this market, which will be an important part in extending our strong start to the year.”
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