The West

Ray Munro. Picture: Lee Griffith/The West Australian.
Ray Munro. Picture: Lee Griffith/The West Australian.

UPDATE 2.05pm: Viento has bucked the trend of downgrades in the mining services sector by predicting a healthy upgrade for full-year revenue and profit.

Bolstered by the recent acquisitions of HVLV and Power Infrastructure Services, along with the growth in its pre-existing businesses, the company said it expected to post full-year revenue in a range of $100-$105 million, up from $24 million the previous year.

Viento expected EBTDA to be in the range of $10-$12 million compared to a loss of $1.7 million the previous year.

"The estimated 2014 EBITDA figures exclude the amortisation of intangibles on acquisitions made during the year and any impairment of the fair value of assets held on the balance sheet," the company said in a statement.

Viento's executive chairman Ray Munro said the result demonstrated early success in the board's decision to create a diversified earnings base, which it expected would continue to produce further growth in the new financial year.

Shares in Viento were up two cents, or 9.52 per cent, to 23 cents shortly before the close of trade after touching an intraday high of 25.5 cents.

The West Australian

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