the west article

This is taken from the Weekend West for those not in WA.

Mining contractor NRW Holdings has posted a 123 per cent jump in first-half profit to $45.3 million on the back of the continued resources boom.

The result was achieved on revenue of $610.4 million, up 72.4 per cent on the previous corresponding period.

The profit allowed the company to double its interim dividend to eight-cents-a-share fully franked.

The company attributed its big revenue gains specifically to the ramp up of its five-year Middlemount Coal mining contract in Queensland, FMG's Solomon project in the Pilbara and the continued strong demand for civil infrastructure in WA's iron ore sector.

Action Drill & Blast, NRW's newest subsidiary, also performed well with a 354 per cent increase in revenue to $50.9 million.

NRW's held $140 million in cash and net debt of $5.5 million at the end of the period.

"The strength in the balance sheet provides the business with a solid base to take advantage of improving market conditions," the company said.

NRW predicted a full-year revenue of about $1.3 billion, up 75 per cent on 2011, with an NPAT margin of 7 per cent of revenue.

It said a visible tender pipeline of $11.4 billion existed across the resources and infrastructure sectors throughout Australia.

The company also foreshadowed a move into "emerging markets", as well as broadening its service offering.

Current active tenders were valued at $3.23 billion across the civil, mining and drill and blast divisions.

NRW shares were off three cents to $3.57 at 9.05am.

http://au.news.yahoo.com/thewest/business/a/-/wa/13001802/nrw-lifts-profit-123pc-doubles-dividend/