i think the report is very impressive i am excited by their new...

i think the report is very impressive i am excited by their new products and 500 million in potential orders
from the newspaper



Matrix Composites and Engineering has lifted full year profit by 85 per cent to a record $33.6 million and tips a further 20 per cent growth in revenue in 2012.

The 2011 result was achieved on revenue of $187.3 million, up 82 per cent on the previous year.

The company declared a final fully franked dividend of five cents, bring its annual payout to eight cents.

The dividend will be paid on October 31.

Matrix completed stage one of its new Henderson plant in June, which the company said would strengthen its position as a market leader in composite materials technology.

The company said funds from a $33.8 million capital raising in April would be used for new product tooling, product development, several new earnings accretive processes and additional working capital for growth activities in the USA and Brazil.

"The fundamental macro driver of our business continues to remain strong as global energy demand drives the offshore industry into deeper and deeper water," Matrix said in a statement.

"The current business conditions are manifested in our open tender pipeline which currently approximates an unprecedented $500 million.

"We have also developed a significant new business line which targets the rapidly growing shale gas and coal bed methane market, which broadens our market and customer base whilst maintaining our focus on our core competencies."

Matrix shares were off 26 cents, or 4.94 per cent, to $5 at $9.30am.