Civil engineering and construction group Decmil reduced its net loss after tax to $1.8 million during the first half of FY24, down from $2.5 million during the prior corresponding period.
The local contractor pulls together an earnings turnaround and is confident in the ‘wide scale reset' of its operations, but will book another loss for 2023.
Civil engineering and construction contractor Decmil Group has received a limited notice of award for road infrastructure works for Covalent Lithium's Mount Holland project.
Civil engineering and construction contractor Decmil Group says it's ready to enter a new phase of profitable revenue growth as it taps investors for $26.3 million.
Investors have seemingly welcomed news that Decmil has settled legacy disputes and finished up loss-making projects, with shares in the contractor closing the day up more than 18 per cent.
Decmil chief executive Rod Heale says the contractor is making positive strides in resolving its legacy issues after reaching a settlement with Schneider Electric Australia.
Decmil shares closed the day at a three-month high despite the contractor bracing investors for a $102 million loss for the financial year following a handful of downgrades.
Decmil has further reduced its expected revenue but is set to bounce back in the new financial year, ending a difficult few months by announcing $137 million in new contracts.
Our board moves wrap includes Michael Naylor, Susan Field, Ray Shorrocks, Simon Jackson, Rod Heale, Vin Vassallo, Mark Freeman, David Koch, Donald Strang, Richard Treagus, and Jeffrey Lee.
