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Resources slump no hurdle

In spite of the challenges facing the resources sector, Monadelphous Group Limited directors are optimistic of sustaining solid financial performance.

Reporting its sixth successive increase in annual net profit, with revenue gains flowing from increased market share boosted by its successful expansion into Queensland, Monadel-phous registered a profit of $5.2 million on operating revenue of $164.6 million.

Earnings before depreciation, amortisation, interest and tax rose 17.2 per cent to $12.7 million.

“The Monadelphous group has continued to strengthen its market position with solid levels of performance across all key areas of operations,” Monadel-phous chairman John Rubino said.

“The company’s regional diversification strategy into Queensland has paid dividends and we are continuing to win new work there.

“We are also broadening our scope of services in the eastern states and are now using the major office established in Brisbane as a springboard to pursue further growth opportunities in New South Wales.”

With earnings per share increasing 18 per cent to 33.5 cents, the directors declared a fully franked final dividend of 15¢, taking the full year’s dividend to 27¢, fully franked.

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