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.
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)
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