15/08/2012 - 11:14

Forge lodges 5th straight year of growth

15/08/2012 - 11:14

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Engineering and construction company Forge Group has confirmed a significant jump in profits for the year to June 30, the firm’s fifth consecutive year of growth.

Forge today announced net profits before tax were up 24 per cent to $70.1 million for the year ended June 30, on the back of an 84 per cent increase in revenue to $780.6 million.

The company paid a fully franked final dividend of 8 cents per share, delivering a return on equity of 34.27 per cent for the financial year.

“We are pleased to deliver another positive resut for our shareholders, following the continued growth of Forge in 2012,” chief executive David Simpson said.

“The integrated nature of our business and its multidisciplinary approach continues to provide Forge with a key market advantage, driving a strong order book during 2012.

“In the past year it has allowed up to generate significant new business, both by expanding the depth of our service with current clients, as well as generating new business with new clients and in new markets.”

Mr Simpson said the group had a very healthy pipeline heading into FY2013, with an order book of approximately $900 million.

“Forge has successfully rolled out the management transition it announced last year, and has commenced a strategic review to further refine how the company meets its customer’s needs,” he said.

At 11:00AM, WST, Forge Group stocks were up 2.2 per cent, trading at $4.64.

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