Business
Cimic (ASX:CIM) share price inches up on $112 million contract wins
Cimic Group Ltd (ASX: CIM) shares have risen by less than 1% in morning trade despite the company announcing new contract wins worth $112 million. At the time of writing, the Cimic share price has edged 0.45% higher to $26.92.
What’s moving the Cimic share price?
The Cimic share price is inching higher after the group announced that its business, UGL, has been awarded several contracts in the utilities sector. The deals have a combined value of more than $112 million.
The contracts are part of the public-private projects involving the state governments and electricity network operator, Transgrid.
Cimic says the contracts will be executed over a multi-year period, and will start this month.
The projects include the design and…
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