Southern Cross Electrical Engineering Half Year Results

Electrical and instrumentation construction specialist, Southern Cross Electrical Engineering Limited (ASX:SXE) today released its first half financial results. The key financial numbers are:

ACQUISITION OF QUEENSLAND ELECTRICAL BUSINESS AND EARNINGS UPDATE

Business Acquisition
Southern Cross Electrical Engineering Ltd (ASX:SXE) today announced the execution of an agreement to acquire Queensland based electrical and instrumentation specialist, Oceanic Industries Pty Ltd (“Oceanic”). To date Oceanic has focussed on the coal seam gas (“CSG”) market and retains a blue-chip customer base including: QGC, Origin, Santos, Arrow and Cougar. In addition to servicing the CSG market, Oceanic undertakes electrical and instrumentation installations as a preferred contractor to the BP and Caltex refineries in Queensland.

Southern Cross Electrical Engineering Wins Two National Awards
• Wins two national excellence awards for work on Rio Tinto’s Cape Lambert upgrade
• Acknowledged by National Electrical and Communications Association (NECA)
• SCEE’s large scale project experience resulted in on time delivery
• SCEE completed more than 260,000 man hours on site without a loss time injury
• Also awarded Safety Contractor of the Month by Rio Tinto six out of the ten times