Monadelphous aims for $500m

MONADELPHOUS Group announced a net profit of $12.5 million for the half year ended December 31 2005, and directors have forecast total revenues of $500 million for the full year. The result represented a 56 per cent increase of the previous six-month period, and an increase in net profit of 101 per cent over the corresponding period last year, as the group maintained its record year-on-year profit growth. Revenues for the reporting period were up 22 per cent to $243 million. Another highlight was cash flows from operating activities increasing from the previous figure of $15.6 million to a record $37.1 million. Monadelphous managing director Rob Velletri said record levels of resources sector development activities continued to drive strong demand, with a pipeline of projects mainly in Western Australia and Queensland.

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