I thought I might share this Peter Williams (The West Australian) article from 2018 with my fellow Hot Copper posters to give some context.
Regards Stretguy.
Peter Williams - The West Australian Fri 24 August, 2018
Macmahon Holdings posts $33m profit, tips more growth Mining contractor Macmahon Holdings has posted a $33 million net profit, turning around a $23 million loss from the year before, and forecasting better things to come.Indonesian-controlled Macmahon’s operating revenue in fiscal 2018 almost doubled to $710 million.It said the primary drivers of the result were the start and ramp up of new projects and a turnaround in performance at Newcrest’s Telfer gold-copper mine in the Pilbara.No dividend will be paid.Macmahon is tipping earnings before interest and tax from continuing operations of $70 million to $80 million this financial year from revenue of $950 million to $1.05 billion.Fiscal 2018’s operating EBIT was $41 million.“Our guidance is based on $1 billion of contracted work for FY19 and our monthly revenue is now consistent with this run-rate,” chief executive Michael Finnegan said.“This gives us a solid platform for further increases in earnings.”Its shares were up 1.5¢, or 6 per cent, to 25¢ at 11.09am. Get the latest news from thewest.com.au in your inbox.
MAH Price at posting:
18.5¢ Sentiment: None Disclosure: Held
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