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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