Shares in GR Engineering Services fell early on Friday morning, following the release of its first half results for FY26.
Shares in GR Engineering Services fell early on Friday morning, following the release of its first half results for FY26.
Tony Patrizi-led GR posted a net profit after tax of $17.2 million during its first half, down from $21.8 million during the prior corresponding period.
Additionally, revenue fell by $54.1 million to $218 million, on the back of mineral processing-based income dipping from $222.1 million to $169.9 million.
Despite this, GR said it had $86.5 million in cash and cash equivalents as of December 31, 2025, along with total equity sitting at $70.37 million.
GR's board has also elected to raise its interim dividend to 12 cents, fully franked, up from 10 cents during the prior corresponding period.
The company said it would maintain its full-year FY26 revenue guidance target of $500 million to $520 million – meaning it will need to generate a minimum of $282 million in the second half to reach the bottom end of guidance.
GR boss Tony Patrizi said he is optimistic the company is on course to achieve this.
“The group’s contracted and near-term pipeline across the business is solid and is continuing to grow.
“I would like to take this opportunity to especially thank all our employees, sub-contractors and suppliers for their efforts and support across the group.”
Earlier this week, GR Engineering was selected by mid-tier gold producer aspirant Brightstar Resources as its preferred contractor in relation to its Goldfields-based assets.
Subject to Brightstar achieving a positive FID and project financing, the deal would be valued at $115 million.
As of 10.12am AWST, GR shares were down 9 per cent to $4.79, after reaching a company high of $4.80 on Tuesday.
