The overall Australian engineering sector, according to consultants IBISWorld, had been hit by a fall in mining investment in the commodities downturn. Industry revenue was expected to fall by 4.6 per cent in fiscal 2016, IBISWorld said.
But longer-term some conditions were tipped to improve. “A rise in public sector capital expenditure on infrastructure projects such as roads, combined with continued investment in the National Broadband Network, is projected to bolster demand for engineering consulting services,” IBISWorld said.
In its Market Update, Seymour Whyte said the organisation seeing “market stabilisation”. “We are well positioned for the steady increase in opportunities in NSW and Victoria,” it said.
SWL Price at posting:
65.5¢ Sentiment: Hold Disclosure: Held
