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Monadelphous Group - Reports 2020 First Half Result, Share Price Rallies 7%

Tim Montague-Jones

Tim Montague-Jones has over 20 year investment management experience working in the financial markets. Previous experience includes a ten year stint at Morningstar as a Senior Equity Analyst/Portfolio Manager, founding the Morningstar Growth Portfolio and a founding member of their Investment Committee. Tim was also a Senior Equity Analyst for Macquarie Group and a member of the winning team to obtain the 2016 LONSEC Fund Manager of the Year award.

Before market open this morning Monadelphous Group Limited (ASX: MND) reported their half year results for the period ending 31 December, 2019. Monadelphous Group Limited is a leading Australian engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. The company operates in Australia, Papua New Guinea and China.

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The business has reported revenue of $852 million, a 2.6 per cent increase on the prior corresponding period and up 9.5 per cent on the second half of FY19. This number represents a 1.7% beat on consensus expectations. Consequently, earnings before interest tax depreciation and amortization (EBITDA) was reported at $59.1 million, a 3.9 per cent beat on analyst expectations

The Board of Directors declared a fully franked interim dividend of 22 cents per share, slightly below consensus expectations of 26 cents per share. This represents an annual dividend yield of 2.68 per cent of the previous market close price $16.38 per share.

The market reacted favorably to Monadelphous Group’s report, with the share price rallying as much as 7 per cent intraday to $17.55 per share. Monadelphous Group Limited was the best performing stock of the ASX 200 in today’s trading session.



This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

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ASR has no position in any of the stocks mentioned.

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