Gruden awarded important follow-up government contract
Published 20-FEB-2017 09:26 A.M.
1 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Digital marketing and web/mobile application development company, The Gruden Group (ASX: GGL) has been awarded a contract to further enhance and develop the whole of government tender system, AusTender.
AusTender was launched in 2003 and processes approximately $60 billion per year in government contracts. It provides a centralised publication of Australian Government business opportunities, annual procurement plans and contracts awarded.
The changes GGL has been contracted to deliver will enhance the scalability and sustainability of the current platform.
The work awarded to GGL will generate revenues of $1.8 million with some of that recognised in fiscal 2017 and the balance in 2018.
However, Gruden is still in the early stages of this contract and, so investors should seek professional financial advice if considering this stock for their portfolio.
Aside from the important financial contribution, this represents the support of both the Australian Government and the New South Wales Department of Finance, Services and Innovation, a high profile endorsement of the group’s capabilities.
GGL was originally contracted by the Australian Government in 2005 to build and develop the platform, and this represents the continuation of a 12 year relationship
Management sees this development as further enhancing its ability to secure high-profile government contracts, particularly given that it has also been selected as a preferred supplier to the Department of Infrastructure and Regional Development where it is facilitating digital transformation.
In December 2016 GGL was awarded a three-year/$3 million contract to deliver and support a new system for the New South Wales Small Business Commissioner.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.