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Monadelphous closes US JV as profit slips

Monadelphous Group has continued to refine its business as it deals with tough conditions in its core Australian market, revealing today it has closed a US joint venture, opened a workshop in Houston, expanded its operations in Manila and acquired a fabrication business in Newcastle.

The engineering company said it had closed its Pittsburgh-based Monaro joint venture, which was established in 2015 to pursue growth opportunities in the Marcellus and Utica shale gas fields in the north-east of the US.

The closure was attributed to continuing unfavourable market conditions, and will come at a cost of less than $1 million.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/08/17

1 year TSR5 year TSR
95thMonadelphous Group86%2%
717 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

05/12/14
$27k Bought
24/09/14
$50k Bought
20/02/14
$30k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Monadelphous Group$1,252.1m
230 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Monadelphous Group

78thRob Velletri$979k
130thDino Foti$725k
305thPhilip Trueman$443k
Ranked by total remuneration from all listed WA companies

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