Local contractors Monadelphous, Macmahon and Mader Group posted upticks in their full-year revenue for the 2024 financial year.
Local contractors Monadelphous, Macmahon Holdings and Mader Group posted upticks in their full-year revenue for the 2024 financial year.
Victoria Park-based Monadelphous generated a record $2.03 billion in revenue, up 11 per cent from the 2023 financial year, with the company heartened by increased demand for its maintenance services, coupled with an active engineering construction sector.
The company’s net profit after tax also climbed by 16.2 per cent to $62.2 million, with its board declaring a final dividend of 33 cents per share, following franked.
Monadelphous managing director Zoran Bebic said prospects for the company, which has $225.9 million cash in the till, remained positive, given a raft of opportunities across multiple sectors.
Tuesday’s announcement follows on from news earlier this month that Monadelphous had its contracts terminated at Albermarle’s Kemerton lithium hydroxide operation, following the US-based corporation’s decision to shut down elements of the site.
At the time, the company said the termination would reduce its present construction work-in-hand by around $200 million.
Monadelphous shares closed trade up 12 per cent to $13.19.
At Perth Airport-based Macmahon, revenue grew by 6.6 per cent to $2 billion, while its underlying net profit after tax increased by 35.9 per cent from $67.6 million to $91.9 million.
The company said a writedown due to the collapse of Calidus Resources was primarily behind its reduced statutory net profit after tax, which regressed by 7.8 per cent to $53.2 million.
Moving forward, Michael Finnegan-led Macmahon said it would operate under a revenue guidance of $2.4-2.5 billion for the 2025 financial year, with $2 billion worth of work already secured.
“Macmahon has delivered another year of growth in revenue and underlying earnings, with the 2024 financial year result marking the eighth consecutive year we have met or exceeded market guidance,” Mr Finnegan said.
The market responded positively to the news, with Macmahon shares closing trade up 9 per cent to 32 cents.
Rising mining services entity Mader Group – which won ‘Employer of the Year’ at Business News’ RISE awards last year – also enjoyed growth throughout the 2024 financial year.
“I’m proud to announce that we have exceeded our revenue and NPAT guidance targets of $770m and $50m respectively,” Mader managing director and chief executive officer Justin Nuich said.
“With record results of $774.5m in revenue and a $50.4 million NPAT, this achievement marks a significant milestone for our business as we enter the final two years of our current five-year strategic plan.
“Our performance this financial year highlights the business’ transformation into a diversified, global technical services provider.”
Despite these numbers, shares in the company dipped by 11 per cent to $5.70 on Tuesday.
Mader told the market it predicted its revenue guidance for the 2025 financial year to be in the vicinity of $870 million, along with a predicted NPAT of around $57 million.
