21/08/2014 - 14:53

RCR profit climbs 22%

21/08/2014 - 14:53

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Engineering and infrastructure company RCR Tomlinson has returned a fifth straight year of revenue growth, delivering a statutory net profit after tax of $43.3 million.

RCR profit climbs 22%
Managing director Dr Paul Dalgleish.

Engineering and infrastructure company RCR Tomlinson has returned a fifth straight year of revenue growth, delivering a statutory net profit after tax of $43.3 million.

Revenue was up 49 per cent to $1.3 billion, whilst EBITDA improved 39 per cent to $83.6 million.

With earnings per share up 13 per cent to 31.9 cents per share, the company has lifted its final dividend 22 per cent to 7 cents per share, fully franked.

This brought five-year total shareholder return to 414 per cent, RCR said.

RCR embarked on a diversification strategy over the last 12 months, moving into infrastructure markets and focussing on technology in a move to make it less reliant on resources.

Managing director Paul Dalgleish said it was the fifth consecutive year of record revenue and earnings.

“Since the acquisition of our infrastructure business, at the beginning of fiscal year 2014, we have improved operating margins and we will continue to drive profitability through quality revenue and reducing the cost base over the coming year,’’ Dr Dalgleish said.

“Both our existing resources and energy businesses have continued to deliver strong results this year due largely to our technology differentiators and the highly specialised nature of our manufacturing, off-site repair and maintenance work.

“We retain a healthy order book and significant recurring work load; coupled with our diversification into infrastructure we are well positioned as we move into fiscal year 2015.”

The company said it had an order book of almost $800 million.

RCR finished up 5.92 per cent to $3.22 at the time of writing.

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