SKS Technologies secures major defence contracts

SKS Technologies Group Limited (ASX: $SKS) has secured several major contracts worth approximately $11 million for electrical and communications infrastructure projects at the Australian Defence Force's RAAF Base Tindal in the Northern Territory.

Executive Commentary

The significant investment made during 2022 to capture work in specific new geographical and market sectors continues to confirm its value in accelerating levels of new work in each targeted sector. The Northern Territory is one of our geographical target markets as is the Defence sector. Since FY22, we have won $28 million of work in the Defence sector, a result that clearly supports our conviction in pursuing this work and our initial investment in acquiring the explicit knowledge and authorisations to win and undertake these projects. Furthermore, these three new contracts increase work on hand to another record level of just above $100 million, and we remain on track to achieve our stated revenue target of in excess of $120 million for FY24

Summary

SKS Technologies Group Limited (ASX: $SKS) has successfully secured contracts for electrical and communications infrastructure projects at the RAAF Base Tindal, demonstrating the company's strategic focus on specific geographical and market sectors. The contracts have increased the company's work on hand to a record level of just above $100 million, supporting its revenue target of in excess of $120 million for FY24. The projects align with the Federal Government's $1.17 billion upgrade to the RAAF base Tindal, showcasing SKS Technologies' ability to capitalize on significant infrastructure developments within the Defence sector.