Ann: Notice of Annual General Meeting/Proxy Form, page-30

And yesterday’s story from Sharecafe which was (also) comparing  Monadelphous to NRW ...although NRW perspective is  on the strength of yesterday’s announcement foreshadowing the NRW AGM rather than  today’s  meeting : (I think they mean shares jumped 7.1% rather than 71%!)

November 21, 2018

“Monadelphous, NRW Offer Differing Perspectives Of Mining Services
By Glenn Dyer | More Articles by Glenn Dyer

The vagaries of the resources sector and the servicing of it were on display in Perth yesterday for NRW and the much larger Monadelphous Group.

Shares in NRW jumped more than 71% to end at $1.95 in yesterday’s weak market after shareholders were told of a strong rebound in earnings, but the news at the Monadelphous meeting was more circumspect – a prediction of a 10% fall in revenue with the ending of a major contract saw the shares eased back 0.8% at $13.97.

NRW released guidance forecasting earnings before interest and tax of about $45 million for the December six-month period, up 100%.

The company said revenue was expected to increase 45% to about $500 million and CEO, Jules Pemberton said in an update issued a day before the AGM in Perth later today that the company was on track to meet annual guidance of $1.1 billion.

Mr. Pemberton said that was despite some poor weather in Queensland during October.

NRW forecast about $70 million earnings before interest, tax, depreciation, and amortisation, up from $40 million a year earlier.

Monadelphous Group CEO Rob Velletri said the 10% slide in revenues this financial year this was because of the large amount of work the engineering and construction company had done a year earlier on the Ichthys LNG project.

“As highlighted in our full year results, as a result of the expected timing of future resource construction opportunities, and the large revenue contribution earned from the Ichthys project in the prior period, we’re forecasting lower construction revenues in 2018/19.

“Based on how we are tracking, our total revenue for the first half of this financial year is expected to be around ten percent less than the prior corresponding period.”

Monadelphous reported revenues of $1.737 billion for the year to June 30, so it is looking for that to come in around $1.65 billion for 2018-19.

But, Mr. Velletri told shareholders at the contractor’s annual meeting that prospects were positive in resources and energy, with significant construction work available in fiscal 2020 and beyond.

“A strong balance sheet provides us with the capacity to invest in the right opportunities, and enable us to continue to progress our markets and growth strategy,” he told the meeting.”

https://www.sharecafe.com.au/2018/1...er-differing-perspectives-of-mining-services/