NRW delivers mixed result

NRW Holdings posted record sales and issues an upbeat outlook, but net profit missed expectations.

Mining and civil engineering group NRW Holdings (NWH) posted a record top-line result and issued an upbeat outlook despite missing consensus earnings estimates due to higher than expected cost pressures.

Management says revenue inched up 1% to $1.37 billion while net profit tumbled 24% to $74.1 million for the year ended June 30, 2013. This effectively means that net profit margins have fallen 180 basis points (or 1.8 of a percentage point) to 5.4%.

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