Civmec net profit up 11.6% YoY in FY 2024

Revenue for the period also increased to $912.8m.

SGX-listed Civmec reported a net profit of $57.1m (AUD64.4m) in FY 2024, an 11.6% year-on-year (YoY) increase from the previous year.

The group also reported a 24.4% YoY increase in revenue during the same period, reaching $912.8m (AUD1.03b). This growth came despite a 27.7% decline in revenue from the Energy segment, which fell to $27.5m (AUD31m). The overall revenue increase was driven by gains in the Resource and Infrastructure, Marine, and Defence segments, which rose by 29.2% to $776.8m (AUD876.5m) and 15.2% to $111.7m (AUD126m), respectively

Earnings per share increased 11.2% YoY to $0.11 (AUD0.13), whilst final dividend stood at $0.3 (AUD0.035).

($1=AUD1.13)