NRW Holdings Ltd. Announces Consolidated Earnings Results for the First Half Ended Dec. 31, 2011; Declares Fully Franked Interim Dividend Payable on March 30, 2012; Provides Earnings Guidance for the Year 2012
February 23, 2012 at 04:55 pm EST
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NRW Holdings Ltd. Announced consolidated earnings results for the first half ended Dec. 31, 2011. For the period, the company reported revenue of AUD 610,447,000, profit before income tax of AUD 64,841,000, profit attributable to equity holders of the company of AUD 45,315,000 or AUD 16.2 per basic and diluted share as compared to revenue of AUD 354,135,000, profit before income tax of AUD 29,155,000, profit attributable to equity holders of the company of AUD 20,360,000 or AUD 8.1 per basic and diluted share for the same period prior year. Net cash provided by operating activities was AUD 113,902,000 as compared to AUD 47,771,000 for the same period prior year. Acquisition of property, plant and equipment was AUD 14,788,000 as compared to AUD 4,201,000 for the same period prior year. EBITDA was $89.4 million. EBIT was $70.4 million. net debt was $5.5 as at Dec. 31, 2011. The increase in revenue can be attributed to the ramp up of NRW's five year Middlemount Coal mining contract in Queensland, FMG's Solomon Project and the continued strong demand for civil infrastructure in the iron ore sector in Western Australia. Action Drill & Blast, NRW's newest subsidiary, also performed very well in the period with a 354% increase in revenue to $50.9 million.
The directors have declared a fully franked interim dividend of 8.0 cents per share for the half year ended 31 December 2011. The dividend will be paid on 30 March 2012 on shares registered on 7 March 2012.
For the year, the company expects full year revenue target of circa $1.30 billion. The company anticipates a full year NPAT margin of 7% of revenue.
NRW Holdings Limited is a diversified provider of contract services to the resources and infrastructure sectors in Australia. The Company operates through three segments: Civil, Mining, and Minerals, Energy & Technologies. The Civil segment specializes in the delivery of private and public civil infrastructure projects, mine development, bulk earthworks and commercial and residential subdivisions. The Mining segment specializes in mine management, contract mining, load and haul, dragline operations, drill and blast, coal handling prep plants, maintenance services and the fabrication of water and service vehicles. The Minerals, Energy & Technologies segment offers mine-to-market solutions, specialist maintenance (shutdown services and onsite maintenance), non-process infrastructure, materials handling solutions, build-own-operate (BOO) process plant solutions and complete turnkey design, construction and operation of mineral processing and energy projects.
NRW Holdings Ltd. Announces Consolidated Earnings Results for the First Half Ended Dec. 31, 2011; Declares Fully Franked Interim Dividend Payable on March 30, 2012; Provides Earnings Guidance for the Year 2012