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Highlights

  • Duratec offers protection, remediation, and refurbishment services.
  • In 1HFY24, DUR’s revenue jumped over 28% YoY to AUD 292.74 million.
  • Ertech Holdings has the highest stake in DUR with a shareholding of 19.10%.

Duratec Limited (ASX: DUR) is an ASX-listed company headquartered in Perth, Australia. Specialising in engineering, construction, and remediation, DUR boasts technical expertise in upgrading and extending the life and use of infrastructure across various market segments. Its core focus lies in safeguarding and restoring steel and concrete structures. In the first half of the financial year 2024 ended 31 December 2023, DUR’s revenue jumped 28.09% YoY to AUD 292.74 million, and net profit after tax grew by 55.81% YoY to AUD 12.23 million. The focus during the latest half period was on developing a pipeline of work and delivering in line with the growth objectives.

During the period, the company declared an interim dividend of 1.5 cents per share.

Outlook

In FY24, the company expects to report revenue in the range of AUD 570 million to AUD 610 million, while EBITDA is expected to fall in the range of AUD 45 million to AUD 52 million.

The company aims to capitalise on the increased spending by the Department of Defence in prime regions. It also sees substantial opportunities in the pipeline within the mining & industrial and buildings & facades segments.

Top 10 shareholders of DUR

The top 10 shareholders of DUR have around 54.85% shareholding in the company. Ertech Holdings Pty. Ltd holds the largest stake in the company, possessing nearly 19.10% of the shares.

Share performance of DUR

DUR shares closed 5.49% higher at AUD 1.25 apiece on 2 April 2024. The share price has surged by 47.06% in the last one year and has declined by 21.87% in the last three months.

The 52-week high of DUR is AUD 1.72, recorded on 8 January 2024, while the 52-week low is AUD 0.825, recorded on 28 March 2023.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 02 April 2024. The reference data in this report has been partly sourced from REFINITIV.