MACA s profit rises despite mine flood
MACA directors Geoff Baker and Ross Williams

Mining contractor MACA shrugged off the flooding of Goldfields gold project earlier in the year to report a 12 per cent boost in net profit to $55 million.

The result was in line with company guidance of profit exceeding $50 million. Revenue was up 25 per cent to $595 million.

MACA said earnings had been affected by the suspension of mining at Regis Resources' Duketon project in February after heavy rainfall flooded open mining pits.

"The potential impact of this event was signficiantly redcued due to proactive management and innovative utilisation of MACA's strong financial position to support its client," the contractor said.

"This was reflected in the lower cash flow from operations, which was impacted while MACA provided assistance to clients with extended items."

MACA will pay a final dividend of 7.5 cents a share, up from 5.5 cents a year earlier.

The company maintained its FY15 guidance of revenue exceeding $600 million, of which 90 per cent is contracted.

"Despite tougher market conditions, continued earnings growth is expected."

MACA's shares were down 1 cent to $2.17 at 10.46am.

The West Australian

Popular videos

Compare & Save

Follow Us

More from The West