Hi fourdollars …. I decided to let go of half my shares this afternoon on the basis the amount was not huge to begin with - which makes the dividend/franking credits not so signifcant …. and because I am a bit in front and (mostly) due to fear the price may retreat by more than the dividend on ‘X’ day next Friday week
. …. Plus boredom, over investment in the sector and ‘opportunity cost’.
The ‘waiting for Harold Holt’ simile strikes true for me as I remember naively discovering the company years back with huge enthusiasm for the dividend and other numbers - as much as I could work them out.
And it just smacked me hard for all my enthusiasm and reseach tributes - that is I bailed at loss.
I came back as the price seemed low, the charts then indicated auspicious if it could climb over 90c
[see @Saragian post May 2020) (which may still apply ) … and I thought perhaps the new boss, Mike Sutton, (ex Downer ) would change the ‘karma’ here…. Especially after he bought Mining West from Downer (clearly he knows that company
very well)
…. And he seems to be doing it - despite the strictures of Covid and whatever else..
but I feel cross I missed the technical exit points before and good profits so I guess I am a bit sour grapes
cheers
https://thewest.com.au/business/mining/maca-posts-207m-profit-on-record-revenue-ng-b881977945zMACA posts $20.7m profit on record revenueStuart McKinnonThe West Australian
Mon, 23 August 2021 10:08AM
Stuart McKinnon
MACA has the mining contract at the Gruyere gold joint venture following its recent acquisition of the Mining West business from Downer. Credit: Paul Kane/Getty Images
MACA has bounced back to full-year profit on record revenue and issued a strong outlook for the year ahead.
The mining, infrastructure and civil contractor posted a bottom line profit of $20.7 million, up from the loss of $17.4m the year before.The company achieved an underlying profit of $38.8m, which stripped out costs associated with client administrations and related business cessations along with the acquisition of the Mining West business from Downer.MACA’s record annual revenue of $1.17 billion represented a 45 per cent jump on the previous year.
The company benefited from strong activity in the mining sector as well as additional revenue from the acquisition of the Mining West business earlier this year.MACA issued financial year 2022 revenue guidance of $1.4b, noting $1.2b of work had been secured by the end of last week with the company poised to add to its record order book.“MACA’s work in hand has increased substantially over the previous two years, from $1.3b at August 2019 to $3.1b at August 2021,” the company said.However the contractor cautioned that it expects labour to continue to remain scarce as COVID restrictions continued to impact on the sector’s ability to source candidates domestically and internationally.MACA declared a fully franked final dividend of 2.5¢ a share in line with last year and bringing its annual payout to 5¢.
Its shares were up 1¢ to 85¢ at 10.05am.
