- Refer to Civmec's announcement dated 09 Feb 2023 for 1HFY23 (Jul to Dec 2022) earnings –
1HFY23 revenue in line with estimates, with positive momentum in gross margins despite inflationary pressures.
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- Revenue 1HFY23 increased 8% y-o-y to A$418.9m mainly due to increased activity levels and timing of revenue recognition on projects.
- Gross profit for 1HFY23 increased 23% y-o-y to A$51.8m reflecting the increase in revenue and improvement in gross profit margins from 10.8%/11.6% (1HFY22/2HFY22) to 12.4%, despite inflationary pressures (e.g., raw materials, fuel, labour) suggesting that cost pressures were well managed.
1HFY23 net profit remained robust.
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1HFY23 operating cashflows turned positive, the first since June 2016.
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