Macmahon loss

The mining services company Macmahon Holdings will post a loss of up to $20 million this financial year, thanks to its troubled construction business. But the sale of its construction operations to Leighton Holdings, which was approved by shareholders this week, will allow the company to focus on its better-performing mining operations. Macmahon made a net loss of $37.6 million in the six months to December 31, after nearly $61 million in write-downs on its construction projects. The mining business made a profit of $38.4 million for the half, up 20 per cent, and Macmahon expects it to make a pre-tax profit of more than $85 million for the full year.

The mining services company Macmahon Holdings will post a loss of up to $20 million this financial year, thanks to its troubled construction business. But the sale of its construction operations to Leighton Holdings, which was approved by shareholders this week, will allow the company to focus on its better-performing mining operations. Macmahon made a net loss of $37.6 million in the six months to December 31, after nearly $61 million in write-downs on its construction projects. The mining business made a profit of $38.4 million for the half, up 20 per cent, and Macmahon expects it to make a pre-tax profit of more than $85 million for the full year.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles