A strong interim result from SCEE, boosted by Infrastructure revenue growth well ahead of expectation. We expect 1H25 EBITDA of $27.1M can be matched in the 2H. The longer-term outlook is underpinned by strong sectorRead more
SBM reported a negative EBITDA of -A$39.8m and negative Earnings of -A$48.1m for 1HFY25. The negative EBITDA and Earnings results were broadly in line with our estimates as production challenges at Simberi resulted in negativeRead more
Monadelphous delivered a strong interim result, with NPAT of $42.5M in line with recent guidance. Cash conversion was impressive, and closing cash of $273M position the Company well to invest in strategic growth. Upgrades toRead more
Macmahon delivered underlying EBITA of $78.0M, ahead of our forecast. It was on the back of better-than-expected performance from recently acquired Decmil and Homeground. This has allowed us to move our EBITA forecast up towardsRead more
SRG delivered a solid result ~5% ahead of our earnings expectations. Strong conversion of earnings to cash put the Company in a net cash position at period end. This was despite the acquisition of Diona,Read more
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