News: E & A on track to FY guidance

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E&A Limited (ASX:EAL) says it is on target to achieve its full year earnings guidance after achieving strong third quarter results.



For the nine months to the end of March, the engineering services company posted an unaudited net profit of $6.04 million.



Executive Chairman Steven Young says the trading results are especially pleasing given the challenges to productivity brought by an expansion and upgrades to its facilities enacted to accommodate growth. 

 

According to Mr Young, E & A is well positioned for further growth as its diversified businesses enjoy a balanced spread of exposure to a number of industries.

 

Meanwhile, E & A subsidiary Fabtech Australia has won a $14 million contract with Leighton Contractors, relating to the installation of geo-synthetic liners for the APLNG Reedy Creek Water Facility in Queensland.

 

E & A generated a net profit of $4.1 million in the first half of the current financial year.