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Valmec’s underlying earnings surged 65 per cent to $8.06 million.

Valmec shines, but Lycopodium falters

Two local engineering services firms have reported contrasting full-year results today, with Valmec announcing record underlying earnings while profit at Lycopodium fell 9.8 per cent.

Valmec’s underlying earnings surged 65 per cent to $8.06 million, while revenue was up 6.3 per cent to $110 million.

Its net profit was $3.5 million, compared with $1.16 million in the prior corresponding period.

The contractor is also anticipating a strong fiscal 2020, with its order book at around $80 million.

The company said it also had a pipeline of construction and service opportunities worth over $595 million.

Meanwhile, Lycopodium released its results for the 2019 financial year, which detailed a fall in profit to $16.5 million.

It recorded revenue of $154 million, compared with $194.6 million in the prior corresponding period.

It paid a final dividend of 15 cents, which was 3 cents less than its previous final dividend.

The company forecast earnings of $220 million for the 2020 financial year, with its bottom line to be a similar level to FY19.

Shares in Valmec closed up 11.1 per cent to trade at 30 cents.

Shares in Lycopodium closed down 3.4 per cent to trade at $5.70 each.

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Valmec (VMX)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Source: Morningstar

Total Shareholder Return as at 30/08/19

1 year TSR5 year TSR
80thCV Check85%
329thValmec0%6%
364thMustera Property Group-3%
402ndAspermont-9%-20%
778thAtlas Pearls and Perfumes-68%-45%
736 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/09/19
$7k Bought
24/06/19
$33k Bought
12/04/19
$12k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

34th↑Valmec$106.1m
71st↑Aspermont$14.8m
72nd↓Atlas Pearls and Perfumes$14.7m
74th↑CV Check$12.6m
75th↓Mustera Property Group$11.4m
197 listed industrial companies ranked by revenue.
Source: Morningstar

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