- Parking infrastructure company PARKD (PKD) commenced contract works for two construction and design projects over the December quarter
- One of the contracts is with the Coxon Group for the design and construction of a multi-level car park, further strengthening the company’s position into 2022
- PARKD and Coxon is expecting the project to cost around $8.2 million and aims to be completed by the second quarter of 2022
- Net operating cash outflows for the quarter totalled $254,000 and the company’s cash reserves at the end of December was over $1.1 million
- On the market, PARKD is down 1.79 per cent and is trading at 5.5 cents per share
Over the December quarter, PARKD (PKD) commenced contract works for two construction and design projects in Perth, Western Australia.
One of the contracts is a binding head agreement with the Coxon Group for the design and construction of a multi-level car park and commercial development further strengthened the company’s position into 2022.
The project will see the PARKD system used for the rapid design and delivery as a four-level car park in an operating commercial precinct greatly improving the quality for commercial tenancies and amenity to customers visiting the hospitality businesses.
PARKD and Coxon are expecting the project to cost around $8.2 million and aims to be completed by the second quarter of 2022.
The project design and documentation was finalised in the quarter and submitted for council review with manufacturing drawings planned for completion in February 2022.
Additionally, the John Huges Project reached final design documentation in the quarter with manufacturing and prefabrication of the PARKD system planned for January 2022 and site works expected in the first quarter of 2022.
Net operating cash outflows for the quarter totalled $254,000 and the company’s cash reserves at the end of December was over $1.1 million.
Revenue for the quarter included fee income for technical services provided to various clients and progress claims on the John Hughes Project.
On the market, PARKD is down 1.79 per cent and is trading at 5.5 cents per share at 3:50 pm AEDT.