“NRW pays first dividend in five years after $28m half-year profit
Peter MilneThe West Australian
Wednesday, 20 February 2019 8:54AM
NRW Holdings managing director Jules PembertonPicture: Robert Duncan
NRW Holdings shareholders will receive their first dividend in five years after the mining services provider’s interim net profit soared 84 per cent to $28 million.
Fresh from completing the purchase of RCR Tomlinson’s mining technology division, NRW’s revenue for the six months to December of $494 million was 58 per cent higher than the corresponding period in 2017.
NRW’s earnings before interest and tax of $50 million exceeded its November guidance by $5 million.
An interim fully-franked dividend of 2¢ a share was declared, the first since April 2014.
NRW managing director Jules Pemberton said all businesses performed above plan and the east coast-focused Goldings contracting business had generated cash equal to its acquisition cost in the first 14 months of ownership.
He said the company had a $2.4 billion order book at December 31 that supported full-year revenue guidance of about $1.1 billion.
NRW shares were up 17¢, or 8 per cent, to $2.25 a share at 10.50am.”
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