Advertisement

RCR lifts first-half profit, dividend

RCR Tomlinson managing director Paul Dalgleish. Picture: Ian Munro/The West Australian.

UPDATE 1.30pm: Shares in RCR Tomlinson were higher after the company lifted first-half profit by 4 per cent to $19 million and boosted its interim dividend by 17 per cent to 3.5 cents a share fully franked.

The engineering and infrastructure company's improved result came despite a 16.7 per cent fall in revenue to $584.5 million.

The company said its order book stood at $712 million at the end of December and it had cut its net debt from $57.2 million to $18.1 million.

Managing director Paul Dalgleish said it was pleasing to improve profitability as the company refined its operating performance and reduced costs.

He said the company had low gearing, which would allow it to pursue acquisitional growth opportunities in the year ahead.

RCR said it began an investor roadshow today to promote the company to institutional shareholders, brokers and analysts.

RCR shares were up five cents, or 2.38 per cent, to $2.15 at the close.