Brandrill pushes ahead

The recent downturn in the resource sector has been reflected in the balance book for mining services and rock-breaking contractor, Brandrill Limited.

The company has announced a drop in annual net profits of 42 per cent to $2.48 million after abnormals. However, the company will still pay a dividend to shareholders of one cent per share unfranked, bringing the total for the year to 2.5¢/share unfranked.

Meanwhile, Brandrill has boosted its business in South Africa to $75 million after its joint venture with Torrex Contracting Pty Ltd was awarded a $45 million contract at Associated Manganese Mines of South Africa’s manganese mine at Nchwaning, near Kuruman in Northern Cape Province.

It represents the third and largest contract announced by the the 50:50 JV.

“The push into South Africa not only continues the company’s geographic diversification in recent years, but also further strengthens its sector diversification into long-life platinum and manganese mines,” Brandrill managing director Jeff Branson said.