ADG Global Supply has announced a 66 per cent increase in revenue on the back of establishing new offices in Africa and the acquisition of UK-based Winchester Procurement.
The mining services firm announced today that unaudited FY2012 first half revenue was up to $38.34 million, from $23.04 million in FY11, and first half EBIT was up 183 per cent to $1.21 million.
Managing director John Mancini said he was pleased to see the company’s investment in infrastructure, people, systems and processes contributing to managed profitable growth.
“Our business model, based on a single contact – global reach proposition, continues to be highly valued by a growing list of clients and is paying dividends through the company’s growing revenues and earnings,” Mr Mancini said in a statement to the ASX.
Mr Mancini said the company’s concerted push to improve its service offering to Africa-focused firms was paying dividends.
“Compared to the corresponding period for FY11, revenue from activities in Africa grew by 72 per cent to $17.54 million and by 51 per cent in Asia to $7.65 million for the half year,” he said.
Mr Mancini said the company expected further growth in FY12 on the back of its acquisition of Winchester, as its full product and service capabilities are extended to Winchester’s customer base.
At close of trade today ADG stocks had gained 9 per cent, to trade at 6 cents.
