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Forge jumps on profit lift, juicy dividend
The West Australian

Shares in Forge Group jumped after the resources contractor lifted first-half profit by 60 per cent to $33.9 million and lifted its interim dividend by four cents to 10 cents a share fully franked.

The result was achieved on revenue of $503 million, up 123 per cent on the previous corresponding period.

Managing director and chief executive David Simpson said the result reflected the integrated contributions from the company's four divisions which were all trading well.

He said the company was already benefitting from rebranding each of its businesses under on unified, distinct brand.

"Forge Group remains on track to meet its full year guidance of net profit before tax of $90-100 million and revenue of between $950 million-$1 billion," Mr. Simpson said.

The company said its order book was stable at $1.04 billion at the end of the period.

It held cash and term deposits of $187 million, offering opportunities for further organic growth and growth by acquisitions.

Forge shares were up 28 cents, or 4.67 per cent, to $6.28 at 8.30am.