East Perth-based engineering consulting company Lycopodium Ltd has exceeded its mid year forecast in reporting an after tax profit of $7.6 million for the 12 month period to June 30 2006 - up 41 per cent on the previous corresponding period.
This was achieved on increased revenue from both the mining and industrial sectors totalling $84.2 million.
The board has declared a final dividend of 10 cents per share taking the total dividend to 15 cents per share fully franked.
Lycopodium chairman Mick Caratti said the 2005-06 financial year had been a stand out one for the company
Lycopodium Engineering opened a new office in the Philippines during the period to support its Australian design services and as a base for opportunities on projects within the Philippines.
The company said in an announcement that it expects the engineering services market to remain buoyant in 2007.
The final dividend of 10 cents per share fully franked will be paid to shareholders on 15 November 2006 with a record date of 1 November 2006.
The full text of an announcement from the company is pasted below
Consulting engineering company Lycopodium Limited (LYL) has exceeded its mid year forecast in reporting an after tax profit of $7.6 million for the 12 month period to June 30 2006 - up 41% on the previous corresponding period. This was achieved on increased revenue from both the mining and industrial sectors totalling $84.2 million.
The Board has declared a final dividend of 10 cents per share taking the total dividend to 15 cents per share fully franked.
"2005/2006 has been a stand out year for Lycopodium with the completion on time of the Ahafo Project in Ghana, our largest project to date, the start of Hope Downs, our first iron ore project and a record financial performance", Mick Caratti, Chairman of Lycopodium Limited said.
"The continuing strong demand for our services in the resources sector has been a major contributor but it has been encouraging to see a good performance by Pdf in the industrial sector with strong prospects for 2006/2007".
Lycopodium Engineering opened a new office in the Philippines during the period to support its Australian design services and as a base for opportunities on projects within the Philippines.
The engineering services market remains buoyant with the Company's growth being limited only by the availability of skilled staff and the ability to match resources to the requirements of our clients' projects. Lycopodium continues to target clients, commodities and regions that will provide a long term market for our services.
The final dividend of 10 cents per share fully franked will be paid to shareholders on 15 November 2006 with a record date of 1 November 2006.
