Veris Says Secured Forward Workload Over AU$55 Million

MT Newswires Live
05-26

Veris (ASX:VRS) said that its secured forward workload is over AU$55 million, set to be executed over the next 12 months, according to a Monday Australian bourse filing.

The firm was selected by the ACCIONA and Genus joint venture to deliver a suite of advanced digital and spatial services to Transgrid's HumeLink East project, which involves the design and construction of 237 kilometers of dual circuit 500 kilovolts overhead transmission lines. Its services have already begun and are expected to generate around AU$1.35 million in revenue over a two-year period.

It was selected by the Shire of Ashburton to assist in the capture and analysis of road network data, allowing it to manage 766 kilometers of unsealed roads more effectively. The contract is expected to generate over AU$200,000 in revenue, with data capture to be completed over an around two-week period commencing in late May.

The former Spatial Vision team, now a part of Veris, was awarded a contract to implement an automated software application for a road safety enforcement initiative for a government agency, expected to generate AU$300,000 in revenue for Veris over the next four months.

The team was also awarded a consultancy contract to determine the requirements for a new operational improvement system to facilitate the building, sharing, and uptake of fire and incident knowledge. The project is expected to generate around AU$100,000 in revenue over the next six months.

The firm's shares rose 7% on market close on Monday.

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