Ann: NRW Holdings FY24 Results Update, page-5

So they have outperformed, as expected, and this is largely due to Jules’ strategy to diversify across skills and sectors

… “The FY24 results reflect the strong demand that we are seeing for NRW's very broad range of expert capabilities. Our extensively diversified business model makes us relevant across the entire lifecycle of a resource development, from the earliest stages of concept development through to mining operations and ore processing design, construction, operation and maintenance. ​

Importantly, our diversification is across multiple commodities and infrastructure, mitigating our reliance upon any one sector..”​

And even without the Spartan share sale they have ended up with more than $2m pre-tax etc earnings?
Plus the Spartan share sale garnered $23m, and when they put $8m of that into the earnings then they are higher than expected EBITDA by $10m?? (Is that how it works?)

Gee : )
Even knowing I should take a wary approach to my maths logic this sounds very good.

….And where has that other $15m from Spartan been directed?
And given the policy announced H1’21 to return 40-60% of profits to shareholders will there be a positive impact to the September dividend? (Last year it was 8c)

And,
..”looking forward, NRW is in a very strong position with $2.7 billion of work secured ($2.9 billion including preferred tenders) for FY25 and a growing pipeline of opportunities supporting strong growth over the coming years.”


This is A VERY GOOD UPDATE!!!