Perenti (ASX: PRN) expects margin improvement amid synergies from recent acquisition, overhead optimisation.

Wed 24 Jul 24, 06:26 AM | Team Kalkine

Image source: ©Unitonevector | Megapixl.com

Highlights

Perenti Limited (ASX: PRN) is an Australian diversified global mining services company engaged in contract mining, mining support services, and future technology solutions. The company's portfolio includes sustainable, interconnected, and value-adding businesses focused on mining services and technology.

In the first half of the financial year 2024 (1HFY24), the company reported a 13.46% year-on-year (YoY) increase in revenue to AUD 1,632.16 million, a 10.40% YoY growth in profit before income tax to AUD 102.09 million, and a 5.40% YoY rise in basic earnings per share to 8.00 cents. Following these positive 1HFY24 results, the company announced an interim dividend of 2 cents per share. As on 31 December 2024, PRN’s cash balance stood at AUD 356.7 million, with undrawn revolving credit facilities of AUD 150.7 million.

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