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MCS Services (ASX:MSG) wins new contract for three major shopping centres

Consumer Discretionary
ASX:MSG      MCAP $1.189M
05 November 2021 15:43 (AEST)
MCS Services (ASX:MSG) - CEO, Paul Simmons

Source: MCS Security

MCS Services (MSG) has won a new contract for three major shopping centres in Perth, Western Australia.

The company will supply its security services to Westfield Carousel, Westfield Innaloo and Westfield Whitford City, which are all owned by the Scentre Group.

MCS’s initial contract term is for 20 months, concluding on June 20, 2023, and is expected to add at least $6 million of income during this initial term.

The new contract will see MCS employ a further 40 security guards and supervisors to staff and three centre’s rosters.

Commenting on the new contract is MCS CEO, Paul Simmons.

“The awarding of this contract is testament to the professionalism of our company and the level of service delivery already provided by MCS to Scentre at its only other Western Australian shopping centre, Westfield Booragoon,” Mr Simmons said.

“The awarding of this contract means the entire Western Australian shopping centre portfolio of Scentre is now serviced by MCS. I am delighted with Scentre’s confidence in MCS, and we look forward to exceeding the client’s expectations.”

On the market this afternoon, MCS was up 1.47 per cent at 6.9 cents per share at 1:52 pm AEDT.

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