16/02/2012 - 15:14

Forge maintains profit, lifts dividend

16/02/2012 - 15:14

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Forge Group has posted a steady profit for the half year ended December 31, pulling in $21.3 million after tax.

The result almost mirrored that of the previous corresponding half year, where the engineering and construction group lodged a net profit of $21.2 million.

The group reported record revenue of $227.8 million for the half-year, up 12 per cent on the previous corresponding period.

Forge said based on its growing order book, more substantial growth would be achieved in the second half of the financial year.

“Construction activities continue to dominate earnings and revenue via construct-only projects and construction projects from the engineering services subsidiary,” the company said.

Forge paid a fully-franked interim dividend of 6 cents per share, up from 4 cents.

At close of trade, Forge shares were down 6.3 per cent, at $5.64.

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