Strong lift in profit for contractor Brierty

Civil and mining contractor Brierty has confirmed a net profit of $9.44 million for the 2012 financial year, on the back of a 38 per cent spike in full-year revenue.

Brierty announced today that revenue was up to $252 million for the 12 months to June 30, and the company would pay a fully franked final dividend of 1.75 cents per share.

The company previously released guidance saying it expected profit of between $9 million and $9.5 million.

Managing director Peter McBain said the strong performance reflected the company’s strong focus on project delivery.

“The management and staff have worked hard throughout the year to grow the business and deliver consistent returns on investment,” Mr McBain said in a statement.

“The financial results, combined with our improving safety statistics and market-leading indigenous engagement, provide a strong indication that the measures employed to improve performance over the past 18 months, such as greater attention to risk management, are working.”

The company has more than $300 million in secured work entering FY2013, while tender activity is strong Mr McBain said.

“Our approach is to be consistently safe and professional in the execution of our projects, delivering benefits to our clients are shareholders.”

At 11:20AM, WST, Brierty shares were up 2.7 per cent, trading at 38 cents.