Winners and Losers: Mayfield rises on new contracts
Mining and telecommunications contractor Mayfield was a Winner last week, as the Australian market recorded its best January in two years.
Mayfield landed the number two spot on the Winners list last week after announcing it secured significant contracts within the renewable, data and mining sectors.
The company’s subsidiary Mayfield Industries will manage the contracts which the company said represented “a substantial step forward in our growth and commitment to delivering excellence in electrical infrastructure in support of Australia’s electrification and digitisation journey”.
The partnership will see Mayfield deliver the supply and installation of 26 prefabricated buildings for a consortium delivering the Central West Orana Renewable Energy Zone (CWO REZ).
The contract value is approximately $20 million, with CWO REZ to be a modern-day power source to connect new renewable generation and storage facilities to the National Electricity Market.
A total of $15 million in other new contracts have recently been secured by Mayfied, including the supply of switchboards to NextDC for a second Melbourne data centre, the expansion to the port and mining operations for mining companies and a telecommunications relocation contract for the Lotus Creek Wind Farm for CS Energy.
Shares in Mayfield rose by 25.38 per cent over the shorter trading week.
Other winners included Neurizer, Oakridge, and Mighty Kingdom which announced an R&D incentive rebate.
January 2025 was the strongest January for Australian markets in two years (up 4.6 per cent) according to Baker Young Limited analysts as the odds of a Reserve Bank interest rate cut rises.
Losers included Nova Eye Medical which completed a $6.6 million raise at a discount and Micro-X which went into a trading halt last week.
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The full list of Winners and Losers for the week ended 31 January 2025:
Data via Baker Young Limited analysts.
