Mining services group ADG Global Supply has reported a net profit of $1.75 million for the year ended June 30, the result of significant growth across its industrial products, global procurement and supply chain divisions.
ADG said its revenue for FY2012 was up 60 per cent to $83.7 million, driving the 141 per cent increase in net profit.
Revenue from the company’s Australian sales was up 24 per cent, to $25.8 million.
ADG managing director John Mancini said the year had seen solid commercial outcomes from the company’s ‘single contact – global reach’ business model.
“2012 has been a year focused on growth across all markets and meeting the growing industrial products, global procurement and supply needs of our clients in over 46 countries,” Mr Mancini said.
“We have achieved this while investing in infrastructure to support our future growth over the medium term.”
Mr Mancini said the growth had been delivered using existing working capital.
“We expect this to remain the case while ADG pursues organic growth over the coming year,” he said.
“The sale of the non-core asset, Universal Pumps, in December 2011 freed up $1 million in working capital to support growth initiatives throughout the year.”
Mr Mancini said ADG was expecting good trading conditions to continue into 2013, with benefits from investments over the past year set to deliver solid growth.
