Key Highlights

  • Monadelphous forecasts half-year Revenue of about $1.7 billion for the period ending 31 December 2026.
  • Net profit after tax is forecast at $80 million to $85 million for the six months.
  • A further $830 million of new contracts has been secured since 1 July 2026.

Monadelphous Group (ASX:MND) shares were trading higher during the 10 November 2026 session, up 15.44% at $32.67 at midday AEDT. The S&P/ASX 200 was also higher, up 1.13% at 9,131.90 around 12:32 pm AEDT. Monadelphous Group Limited (ASX:MND) is an engineering group providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. In a Business update released on 10 November 2026, the company provided guidance for its half year ending 31 December 2026, forecasting revenue of about $1.7 billion and net profit after tax of $80 million to $85 million.

About the company

Monadelphous has more than 50 years of experience and operates two divisions. Engineering Construction provides large-scale multidisciplinary project management and construction services, while Maintenance and Industrial Services covers mechanical and electrical maintenance, shutdowns and sustaining Capital works. The company is headquartered in Perth.

Business update released on 10 November 2026

The company said activity levels have remained elevated over the first four months of the 2027 financial year, supported by a substantial level of new contracts and extensions awarded over the last couple of years. A further $830 million in new contracts has been secured since 1 July 2026.

Demand for engineering construction services contributed a larger share of total revenue than in the first half of the previous year. Monadelphous attributed the growth mainly to increased revenue from integrated construction projects and a full six-month contribution from Kerman Contracting.

Second-half outlook

The company said operating activity will moderate in the second half of the financial year as current work is completed. It expects Earnings to be supported by the continued operational performance and economies of scale, together with a substantial contribution from several projects approaching completion during the half.

The company's update covers the first four months of the 2027 financial year, and it notes that the forecast revenue and profit range is based on the current status of contracts and projects. Contract extensions, the progress of integrated construction projects and the completion of projects approaching finish are all factors in the final half-year figures. Shareholders reviewing the update will want to compare the forecast range with the results that the company reports once the half-year period closes.

Sector Context

Engineering and construction services for the resources, energy and infrastructure sectors depend on project pipelines and the timing of contract awards. Demand for construction and maintenance services has been supported by ongoing resource and energy projects across Australia.

Engineering and maintenance contractors often report results on a half-year basis, and forecasts issued before a reporting date are usually based on work in progress and expected completion timing.

Risks to Consider

  • The half-year figures are forecasts, and the final result may differ from the guidance provided.
  • The company expects operating activity to moderate in the second half as current work finishes.
  • Project completion timing and contract delivery can affect margins and the earnings profile.

What to Watch Ahead

  • The half-year results for the period ending 31 December 2026.
  • Further contract awards and extensions announced in the second half of FY27.
  • The contribution of integrated construction projects to revenue and margins.

Final Word

Monadelphous's business update points to higher half-year revenue and profit, with activity expected to moderate in the second half. The half-year result will confirm the level of earnings against this guidance.

The update is an ASX business update that gives forecasts ahead of the half-year reporting date, and the company's figures remain subject to the completion of its reporting process for the period.