Australia's Monadelphous climbs on BHP contract
06/01/2026 24:52
** Monadelphous Group MND.AX rises as much as 3.4% to A$27.915, highest since November 26 ** Co signs A$175 million ($117.5 million) construction contract with BHP BHP.AX for car dumper project in Port Hedland, Western Australia ** Contract comes just two weeks after co's A$250 million contract with Rio Tinto RIO.AX for its Brockman Syncline 1 iron ore development ** Citi says second major engineering and construction work in iron ore space shows solid near-term topline visibility, co's heightened bid-win rate ** Thinks co's revenue growth profile could surprise on upside for FY26, FY27 ** MND gained 89.4% in 2025 ($1 = A$1.4899) (Reporting by Himanshi Akhand in Bengaluru) ((Himanshi.Akhand@thomsonreuters.com;))
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