Monadelphous Group Limited (AU:MND) has released an update.
Engineering firm Monadelphous Group Limited has announced a significant setback as Albemarle Corporation terminates contracts for construction and maintenance at the Kemerton Project in Western Australia. This termination is expected to reduce Monadelphous’s projected revenue by $75m to $85m for the year ending June 30, 2025, and decrease current construction work-in-hand by approximately $200m. The company, with over 50 years of industry experience, is now facing a notable reduction in its future workload due to the completion status of only 15-20% for the contracted works.
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