Shares in
Maas Group Holdings Ltd (ASX: MGH) are gaining today after the company released an update on its earnings and acquisitions. At the time of writing, the Maas Group share price is trading at $5.90 – 2.08% higher than Friday’s close.
However, earlier today, the Maas Group share price gained 9.3% to reach an intraday high of $6.32.
Maas Group provides construction materials, equipment, and services and has vertically integrated interests in real estate.
Let’s take a look at today’s news from Maas Group.
The latest from Maas Group
The Maas Group share price reacted positively after the company released a market update detailing its earnings and acquisitions since its initial public offering (IPO) in December 2020.
Jarrod Reedie
The NSW Government has announced the acquisition of 13 city buildings lining the streets of Pyrmont and Hunter Street to make way for two metro stations as part of the Sydney Metro West line.
The stations will provide a link between the CBD and Parramatta, accommodating the needs of approximately three million people and significantly decreasing travel times.
Pyrmont’s Metro station will be located between Pyrmont Bridge Road and Union Street, whereas Hunter Street station will be accessed either via the corner of Hunter and George Streets or Bligh and O’Connell Streets.
Transport Minister Andrew Constance says the buildings will not disrupt living arrangements for city residents.
Adbri eyes $150 billion infrastructure boom
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The boss of Australia’s largest cement group says the $150 billion pipeline of infrastructure projects under way or on the drawing board will more than offset any slowdown in residential construction once the current “pull-forward” in demand levels out.
Adbri chief executive Nick Miller said the robust conditions in residential construction were likely to continue in the short term, although there are some worries on the horizon if international migration remains banned as authorities wrestle with the difficulties of the COVID-19 pandemic.
An artist’s impression of parts of the Western Sydney Aerotropolis, a new “economic corridor” surrounding the second Sydney airport.