23/02/2012 - 13:21

Decmil pays dividend after lodging solid profit

23/02/2012 - 13:21

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Decmil pays dividend after lodging solid profit

Civil Engineering and construction company Decmil Group has declared its first dividend after reporting a $13 million profit for the six months to December 31.

Decmil announced today it would pay a maiden dividend of 2.5 cents per share, after reporting a 9.8 per cent dip in revenue, to $210.9 million.

As of February 2012, Decmil’s order book stood around $500 million.

“This result was underpinned by the continued strong performance of the group’s key wholly-owned asset, Decmil Australia,” chief executive Scott Criddle said.

“DGL has also delivered on its strategic diversification plan to deliver ongoing earnings growth by executing its first build-own-operate contract though the successful acquisition of a 50 per cent interest in the Calliope Accommodation Village in Gladstone, Queensland.”

Mr Criddle said the company expected earnings the second half to be stronger than the first half of the current financial year.

“We are continuing to benefit from the strength of the resources sector, most notably in Western Australia and Queensland.,” he said.

“We believe our growth strategy will yield further benefits during the remainder of the current financial year and beyond.”

At 1:15PM WST, Decmil stocks had gained 1.5 per cent, to trade at $2.65 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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