Civmec's Q4 net profit up 25.4%

NET profit at Australian construction and engineering services provider Civmec rose 25.4 per cent over last year to reach $11.6 million in the quarter ended June 30.

Revenue more than doubled to $166.7 million this year, on the back of increasing momentum from existing contracts.

For the full year, net profit fell 2.7 per cent to $35.1 million as revenue rose 6.8 per cent to $433.7 million.

Earnings per share for the year fell to 7.01 cents from 7.20 cents a year earlier. Net asset value per share was 28.79 cents as at June 30, up from 21.99 cents on the same date last year.

The firm is proposing a dividend of 0.7 cent per share, subject to approval from shareholders.

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