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Nauru detention contractor to earn extra $20m this year

Manus Island detention centre
Manus Island detention centre

THE contractor running Australia's offshore detention centres on Nauru and Manus Island has told the stock market it is confident its government contract will be renewed for another five years.

In a statement released to the ASX on Monday, Broadspectrum also said its existing contract had been expanded and extended for another year, ahead of a new five-year contract.

It also updated its expected earnings for this financial year, up $20 million from $265 million to $285 million for the year to July 2016.

Expected contracted revenue was also forecast to rise from $2.3 billion last December to $2.8 billion in Feb 2016

The company also again rejected a takeover bid from Spanish firm Ferrovial, unless it offers at least $1.60 a share, compared to about $1.30 Ferrovial last offered.

Topics:  nauru offshore detention refugees


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