- Contract service provider NRW (NWH) is trading up over 10 per cent after releasing its FY21 results and announcing a final dividend of 5 cents
- The company which aids the resource and infrastructure sectors posted an 11.5 per cent increase in revenue to $2.3 billion — in line with guidance
- It ended FY21 with a $54.3 million profit, slightly down on last year’s profit of $73.75 million, while earnings grew by 6.7 per cent to $266.7 million
- Shareholders will be paid a final dividend, bringing their total dividend for FY21 to 9 cents per share
- Company shares are trading 15.8 per cent up at $1.93 at 1:42 pm AEST
Contract service provider NRW (NWH) is trading up over 10 per cent after releasing its FY21 results and announcing a final dividend of 5 cents.
NRW finished the financial year with a $54.3 million profit, slightly down on last year’s profit of $73.75 million.
The company, which services the resource and infrastructure sectors, posted an 11.5 per cent increase in revenue to $2.3 billion — in line with its guidance.
The ASX-lister’s earnings before interest, taxes, depreciation and amortization hit $266.7 million, a rise of 6.7 per cent.
NWH’s operating EBIT hit $120.6 million, down on last year’s figure due to cost increases related to its project in WA’s Pilbara Project.
Commenting on the figures, Managing Director and CEO Jules Pemberton said FY21 had been a challenging year.
“The COVID-19 pandemic has had a significant impact on the business throughout the financial year,” Mr Pemberton said.
“The most important outcome, however, is that our workforce has been able to continue to get to work and deliver some outstanding projects for our clients whilst working safely and within a range of restrictions related to the pandemic.”
NWR ended June 30 cashflow positive with $147.4 million on its balance sheet and a cash balance of $146.5 million.
The company’s shareholders were due to be paid a final dividend of 5 cents per share, brining their total dividend for the year to 9 cents — roughly 53.8 per cent of net profits.
Looking ahead, the business is expecting an operating EBIT of up to $155 million in FY22, with $3.4 billion already on the order book.
Company shares were trading 15.8 per cent up at $1.93 at 1:42 pm AEST.