Aerison boosts revenue guidance

ENGINEERING and construction firm Aerison Group has secured A$140 million in new contracts.
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Staff reporter

The works were across the resources, gas and electrical infrastructure sectors and included the engineering, procurement and construction of a 40 megalitre saline water reverse osmosis plant in the Pilbara iron ore sector.

The new work also included the design, construction and installation of a gold room fume extraction system in Kalgoorlie, the construction and modular assembly of pipe rack modules for a lithium plant and the design, construction and installation of a battery energy storage system for an alumina project in North Queensland.

The company also won a three-year shutdown contract in the iron ore sector.

The wins prompted Aerison to increase its FY22 revenue guidance by 15% to $180 million.

"These new contracts expand our existing customer base and significantly increase our revenue forecast for FY22 as we continue to demonstrate the company's solid track record of delivering for our customers," Aerison managing director and CEO Giuseppe Leone said.

"As the company continues to grow, we look forward to building our valued long-term customer relationships into 2023 and will actively target new customers by providing a quality turnkey service."

Aerison listed on the ASX in July after raising $13.5 million.

Its shares have traded in a range of 19.5-29c since then and last traded 2.5% higher at 21c.