Civmec Limited Announces Group Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2012; Provides Earnings Guidance for the Fiscal Year Ending June 30, 2012
May 11, 2012 at 03:47 pm
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Civmec Limited announced group unaudited earnings results for the third quarter and nine months ended March 31, 2012. For the quarter, the company reported sales revenue of SGD 97,065,000 against SGD 11,227,000 for the same period a year ago. This increase was due to higher revenue recognized as a result of higher activity levels in both the oil & gas and mining and other segments. Profit before tax was SGD 13,670,000 against SGD 1,444,000 for the same period a year ago. Profit for the period was SGD 9,884,000 against SGD 1,010,000 for the same period a year ago. Earnings per basic and diluted share attributable to equity holders of the company were 2.20 cents against 0.22 cents for the same period a year ago.
For the nine months, the company reported sales revenue of SGD 215,090,000 against SGD 35,613,000 for the same period a year ago. Profit before tax was SGD 30,844,000 against SGD 5,621,000 for the same period a year ago. Profit for the period was SGD 21,889,000 against SGD 3,905,000 for the same period a year ago. Earnings per basic and diluted share attributable to equity holders of the company were 4.86 cents against 0.87 cents for the same period a year ago. Net cash provided by operating activities was SGD 16,553,000 against net cash used in operating activities of SGD 203,000 for the same period a year ago. Purchase of property, plant and equipment was SGD 12,573,000 against SGD 22,754,000 for the same period a year ago. Net asset value per ordinary share was 13.90 cents.
The company announced that barring any unforeseen circumstances the Group expects to remain profitable for the financial year ending June 30, 2012.
Civmec Limited is an Australia-based multidisciplinary construction and engineering services provider to the energy, resources, infrastructure, marine and defense sectors. The Companyâs business activities include heavy engineering; shipbuilding; modularization; structural, mechanical, piping (SMP); electrical, instrumentation and control (EIC); precast concrete; site civil works; industrial insulation; maintenance; surface treatment; refractory; and access solutions. In the energy sector, it provides solutions for upstream and downstream energy projects. Its vertically integrated operating model supports the delivery of projects in the resource sector, allowing the Company to develop solutions for small or large greenfield and brownfield projects. It delivers several infrastructure, marine and defense projects across Australia, which include Perth Stadium, Matagarup Bridge and Perth Kidsâ Bridge. Its facilities are located in Henderson, Gladstone, Newcastle and Port Hedland.
Civmec Limited Announces Group Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2012; Provides Earnings Guidance for the Fiscal Year Ending June 30, 2012