26/08/2013 - 12:38

MACA predicts further growth after strong FY2013

26/08/2013 - 12:38

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MACA predicts further growth after strong FY2013

Mining and civil contractor MACA has predicted it will continue its run of earnings growth, after riding out the slowdown in the resources sector to book a 31 per cent rise in full-year net profit.

MACA today announced a net profit of $49.5 million for the year to June 30, up from $37.7 million in FY2012.

Revenue was up 42.1 per cent to $475.9 million, MACA said.

The company will pay a final dividend of 5.5 cents per share, fully franked.

MACA managing director Doug Grewar said the company’s operations continued to grow from strength to strength.

MACA’s current contracted and awarded work in hand position is now at a record full year level of $1.7 billion with an average mining contract tenure of 35 months,” Mr Grewar said.

“Despite challenging times in the industry, MACA stands out as a leader in its sector and is strongly positioned to continue its growth and performance in future periods.”

The company is expecting FY2014 revenue to exceed $550 million, with 95 per cent of that already contracted.

AT 12:30PM, WST, MACA shares were up 7.1 per cent, at $2.24.

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