LogiCamms FY11 half year profit up 68pc

iStock_000003992536 FinancialStockMarketAustralian engineering and project delivery company, LogiCamms Limited has announced a record first half after tax profit of $4.2m, up 68% from $2.5m in the pcp.

The company’s results also posted EBITDA of $4.5m, up 32% from $3.4m in the pcp.

LogiCamms Managing Director Adam Keats said the company was pleased with the half year results which were driven by strong organic growth.
“Our robust half year performance demonstrates our teams’ capacity to deliver organic growth during a period of internal investment and development” he said.

The company’s Board announced a final dividend of 3.25 cents per share, up 18% from the pcp. The record date is 9 March, with a payment date of 31 March 2011.

“We are confident of continuing to grow during FY11 based on improving market conditions and the strategic development initiatives we are undertaking,” Mr Keats said.

The company recently announced a significant contract win with BHP at Roxby Downs, confirming its strategy of diversification into multi-discipline services was gaining momentum.

*pcp = previous corresponding period.