The fight for the future begins

FROM the $120 million Viridian Resort in Noosa to $30 million in school projects, construction company Matrix is now looking to the public sector for contracts.

Director Peter Burt says Matrix is getting involved with the Federal Government’s Building the Education Revolution (BER), as well as a number of other public sector projects in the wake of the downturn in the private construction industry.

“We started to focus on the public sector three years ago and with the current downturn it’s been good for us because we’ve been able to start a number of government projects,” says Burt.

“The traditional market for us has been development projects but private clients have dried up and until they return we’re focusing on small to medium term projects.

“We’ve got nine or 10 schools that we’ve started on or are about to start, plus some private schools, valued at around $2 million to $3 million each.”

Burt points out that for most companies in the industry, credit from the banks has virtually ground to a halt and put a dent in the company’s operations, leaving the director concerned for the future.

“Revenue was $150 million or more and in 09/10 it could be in that order – probably will grow on last year. But the following year (2011) is looking uncertain, it’s a bit of an unknown.

“It’s early days and we’re looking after our projects and waiting to see how the market unfolds.

Other projects Matrix is working on include the Mareeba Police Station, public housing projects in Brisbane, a hospital project in Cairns, as well as another aged care facility in north Queensland.

With 100 staff, Burt claims not only to be keeping people employed but Matrix has actually added staff, to keep up with projects generated by the BER.

While the company has started early operations to scope out opportunities in the Asian market, director John Davies says that after 20 years Matrix will continue its focus on Queensland.

“There’s a lot to be said for sticking to your netting,” says Davies.

Get our daily business news

Sign up to our free email news updates.

 
Finexia’s Childcare Income Fund secures ‘very strong’ rating from Foresight Analytics & Ratings
Partner Content
Private credit specialist Finexia Financial Group (ASX: FNX) has secured a “very...
Finexia
Advertisement

Related Stories

"10x in six months": Brisbane startup Xrecruiter opens Melbourne office

"10x in six months": Brisbane startup Xrecruiter opens Melbourne office

A Brisbane-headquartered startup that helps recruiters strike it ou...

Another setback for Tritium as Nasdaq calls out EV charger manufacturer over listing standard

Another setback for Tritium as Nasdaq calls out EV charger manufacturer over listing standard

After restructuring its shares by one-to-200 in order to prope...

US investor Quinbrook gears up to build giant battery at Brisbane’s $2.5b Supernode

US investor Quinbrook gears up to build giant battery at Brisbane’s $2.5b Supernode

US-based investment group Quinbrook Infrastructure Partners is pois...

Law firm profits surge as survey reveals robust client demand and margins

Law firm profits surge as survey reveals robust client demand and margins

Four in every five Australian law firms are reporting profit margin...