SSH Group (ASX:SSH) contract extension for Forrestfield Airport Link

• SSH Group (SSH) announces a contract extension of four months for the $1.86 billion Forrestfield Airport Link
• The contract is now worth $10.3 million, with the additional four-month extension worth an increase of $2.7 million
• The company claims its FY22 order book growth is strongly outperforming its previous year by 33.7 per cent.
• Shares in SSH rounded off the day up 4.17 per cent to 25 cents

SSH Group (SSH) has announced a contract extension of four months for Webuild Group’s $1.86 billion Forrestfield Airport Link.

The company supplies site access control and security to the project in a joint venture with NRW holdings (NRW).

The contract extension reportedly carries a value of $2.7 million, with the total contract now valued at $10.3 million.

As part of the contract, SSH says it has also executed a supply agreement for the provision of labour-hire to the joint venture with its people division. This division will initially supply labourers, scaffolders and riggers to the project.

Additional resources will also reportedly be provided to meet the project requirements between now and completion.

The company says its FY22 order book organic growth stands at 83.7 per cent of its total revenue from the previous, with six months left in the current financial year.

Managing Director, Daniel Cowley Cooper, says the company has a strong balance sheet.

“We are not only excited with the rate of organic growth, but also the acquisition opportunities we are currently reviewing in order to acquire earnings accretive companies,” he said.

Shares in SSH rounded off the day up 4.17 per cent to 25 cents.