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post Posted: Feb 24 2020, 06:51 PM
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Maca delivered a half year net profit of $12.0 million for the first half of FY20, which was up by 48% on the prior corresponding period (pcp). Revenue came in at $364 million, which was up by 12% on pcp.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the company saw a dramatic increase of 97% to reach $54.4 million. This EBITDA result was consistent with its previously advised FY20 EBITDA guidance of between $104 and $110 million.

Operational update
The company noted that contract mining operations during the half continued for a range of projects, including its contract for Regis Resources at the Duketon South and Duketon North operations, and for Ramelius Resources at the Mt Magnet operations.

Internationally, Maca noted that it has ceased operations for Avanco Resource, which is now fully owned by Oz Minerals Limited (ASX: OZL), at the Antas project in Brazil. The company continues to develop its Okvau mine for Emerald Resources in Cambodia, with Maca preparing to gear up for a commencement nearing the end of calendar year 2020.

Future developments and prospects
Maca commented that its activity pipeline within the mining sector remains strong and feels that it remains well placed to benefit from the consolidation that is currently underway within the contracting space.

The company anticipates that its civil and infrastructure divisions will deliver significant revenue growth during the second half of FY20.

The company reaffirmed its previous revenue guidance of $770 million and EBITDA guidance of between $104 million and $110 million for the full year. This guidance is supported by its recent mining services wins, further civil construction awards in Victoria, and by its work in hand, which is now sitting at $2.4 billion.

The company declared an interim dividend of 2.5 cents per share, payable on 19 March 2020.

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
post Posted: Jun 27 2012, 03:44 PM
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Maca Limited (MLD)


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