Monadelphous profit jumps

Firm says ‘abnormal’ growth unlikely to continue.

Mining contractor Monadelphous (MND) says the surge in contracts that helped it to a 14% increase in full year net profit is unlikely to continue in 2014 and that it would focus on cost reduction and productivity improvements to protect margins.

An ‘abnormal’ period of growth pushed the company’s annual profit to $156.31 million from $137.34 million in 2012-13. Underlying NPAT was up 25%.

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