Australian Stock Report - Share Tips
ASX Best Shares News: Monadelphous Group (MND)
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Publish date: Tue, 23 Aug 2011, 04:13 PM
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Monadelphous Group (ASX:MND) is a leading engineering group providing extensive engineering construction, maintenance and industrial services to the mining, energy and infrastructure sectors.
Today MND reported an FY11 net profit of $95.1 million, up 14.2% on-year and beating analyst estimates. A final dividend of 55 cents was declared.
Sales revenue was grew 13.2%, with all of MND's divisions contributing to the result amid healthy demand from the resources and energy markets.
Monadelphous Group was bullish about the longer-term outlook, with record levels of capital investment in the mining industry expected over the next few years.
The optimistic forecast has sparked MND, which has been one of the best shares today.
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