Decmil s headquarters in Osborne Park.
Decmil's headquarters in Osborne Park.

UPDATE 2.30pm: Shares in mining services company Decmil jumped after the company announced a full-year profit upgrade of about 50 per cent on the previous year's result.

Decmil said it expected to report a profit of $35-$36 million, up 49-53 per cent on last year's result, representing earnings per share of about 24 cents.

"Revenue for the full year of approximately $550 million is a 40 per cent increase on last year and ahead of previous market guidance," the company said in a statement.

Decmil said it held $125 million in cash at the end of the period which would allow it to pursue growth opportunities.

Chief executive Scott Criddle said the company continued to win major contracts as a result of its long-term relationships with the leading companies in the resources sector.

"We have also expanded into new markets including the development of the Calliope accommodation village in Gladstone, Queensland, which is delivering a recurring revenue stream," he said.

Decmil expects the release its final full-year results on August 23.

Shares in the company closed up 16 cents, or 6.99 per cent, at $2.45 at 8.50am after touching a peak of $2.60 in earlier trade.

The West Australian

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