Monadelphous: Results 2012

The mining boom has been good to Monadelphous but even this excellent business cannot escape the impact of lower commodity prices.

If there’s a slowdown in the resources sector, no one told Monadelphous, which released cracking full year results. Net profit after tax leapt 45% to $138m, which included more than $10m of gains from asset sales. On an underlying basis, profits were up 33% to $126m. From underlying earnings per share of 142.4 cents, up 31% from last year, a final fully franked dividend of 75 cents was declared (est. ex-date 10 Sep), taking full year dividends to 125 cents per share. Despite generous dividends the business continues to hoard cash, finishing the year with net cash of more than $150m.


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