27/08/2009 - 13:39

Nomad says 18% profit fall is creditable

27/08/2009 - 13:39

Bookmark

Save articles for future reference.

Modular and transportable buildings manufacturer, Nomad Building Solutions posted an overall profit of $13.3 million following the economic downturn negatively impacting its clients' investment decisions and an impairment charge of $6.8 million.

Modular and transportable buildings manufacturer Nomad Building Solutions posted an overall profit of $13.3 million following the economic downturn negatively impacting its clients' investment decisions and an impairment charge of $6.8 million.

The donga and remote accommodation provider's profit before the impairment charge against good will reached $20.1 million, an 18 per cent fall on last year's net profit of $24.6 million.

Nomad Building Solutions managing director, Alan Thomas said his company's 45 per cent drop in earnings was a "creditable performance" given issues encountered during the year.

However, the company recorded a 24 per cent increase in revenue to $415.3 million.

"The result was a creditable performance given some of the issues encountered during the year," Mr Thomas said in a statement.

Nomad's order book has improved in recent months, including last week's announcement of $51 million of work in the North West and the Kimberely for its Rapley Wilkinson business as well as the Gorgon accomodation village contract worth $46 million secured at the end of July.

The company cut its divided from 9.5 cents last year to 4.5 cents for FY2009.

Nomad shares were lifted 2 cents, or 2.58 per cent to close at 79.5 cents.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options