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On the final day of reporting season for fiscal year 2024, several companies have released their financial and activities reports.
Ship making business Austal Ltd (ASX:ASB) said that its revenue had dropped by 7% to $1.47 billion for the 2024 fiscal year (from approximately $1.59 billion in FY23).
The company’s underlying EBIT came in at $58.9 million, with this factoring in a land sale worth $54.4 million and the one-off impact of costs ($56.8 million) related to legal costs and fines from the Department of Justice (DoJ).
Austal also held back its dividend for FY24.
TPG Telecom Ltd (ASX:TPG) reported that its profits had slumped 40% to $29 million in the half year to June 30 (from $48 million in the same period last year), while its revenue came in flat at $2.71 billion.
In a bid to reduce costs – which had increased as a result of increased spending on network and technology capability, plus financing for a new tower lease agreement and higher interest rates – the company has decided to cut 120 jobs.
TPG Telecom’s interim dividend (87% franked) was declared at 9.0 cents per share, the same as this time last year.
Downer Edi Ltd (ASX:DOW) said its net profit had lifted almost 21% to $210 million in FY24 (from $174 million), while its earnings figure (EBITDA) had also increased by nearly 18% to $380.8 million.
The integrated services company said the fiscal year 2024 had yielded several achievements, including the return of the Utilities business to profitability and improved margin
growth in the Facilities business.
The company’s final dividend increased to 11 cents, from 8 cents in FY23.
By 12:36 AEST, all three companies had seen their shares rise. Downer shares were trading at $5.62 (a rise of 17.47% since the market opened), while TPG was trading 7.53% higher at $4.93, and Austal shares were 1.10% higher at $2.31.
