AJ Lucas CEO optimistic about pipeline industry future

Mr Eggers comments come after the company posted its preliminary final report for the 2013-14 financial year in which the company reported a statutory loss of $A91.7 million.

In the report Mr Eggers states “While trading conditions were challenging in the 2014 financial year, there were encouraging signs of stabilisation toward the end of the period”.

AJ Lucas has three main operating segments: drilling, engineering and construction including pipeline installation, and oil and gas. The report states that the engineering and construction division is tendering for a significant amount of new work and has been shortlisted for a number of projects which are well suited to the company’s capability.

“In pipelines we are seeing tender activity. I think that reflects that there’s a bit of ageing infrastructure out there but also the east coast gas demand is growing,” Mr Eggers said.

In addition, Mr Eggers said that AJ Lucas’ construction division would benefit from upgrades to gas networks.

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