South Australian electrical and telecommunications infrastructure specialist Mayfield Group Holdings Limited (ASX: MYG) has been awarded total new orders of $21.2m, across its subsidiaries ATI Australia Pty Ltd and Mayfield Industries Pty Ltd, for the financial year 2024 to date.
These new orders cover both electrical and telecommunications infrastructure with a spread of end-use applications. Of particular significance are new contracts supporting projects in the developing Lithium and Hydrogen production sectors, part of the renewable energy economy, data centres supporting the digital economy, and Essential Services supporting communities.
Mayfield’s management said the company’s confidence in strong demand, expressed in the 2023 Annual Report, is now evidenced by a Work-in-Hand of $55m in comparison with $43m reported at the end of September 2022. The order book has a healthy mix of clients, industries (mining, renewables, utilities, essential services, education), project types (capital and services) and order value. All Work-in-Hand is expected to convert to Revenue in the current financial year.
Mayfield remains optimistic about the pipeline of future opportunities and our strategies of Australian manufacture and technology application.