Engineering services company Monadelphous Group (ASX:MND) has announced a series of new contracts and extensions valued at approximately $160 million. These deals span several key mining and industrial sectors across Western Australia.
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Perth-based engineer and constructor, Monadelphous (ASX:MND) is looking to iron ore and gas to support Western Australian project activity as it tries to recover from the loss of a large lithium contract from US giant, Albemarle.
Read MoreDecember half year earnings for engineering contractor Monadelphous rose more than 17% despite increased margins pressure from continuing labour shortages in the WA resource sector.
Read MoreStrong results and increased dividends from SEEK, Ansell and Monadelphous weren’t enough to satisfy the market, with each company’s shares falling in Tuesday’s ASX session.
Read MoreMonadelphous has guided to sales being up around 10% in the first half versus the prior half, better than UBS anticipated. The stronger resumption in activity is reflected in improved staffing levels which have increased by around 20% since June.
Read MoreShares in Perth-based mining services company Monadelphous have dropped to a four-year low as broking analysts cut their ratings on the stock in the wake of news of a $493 million damages suit from Rio Tinto.
Read MoreShares in Perth-based engineering company Monadelphous Group dropped more than 10% on Monday after news broke that it was being sued by Rio Tinto over a fire at one of Rio’s iron ore export terminals at Cape Lambert in the Pilbara.
Read MoreThe company’s balance sheet is the strongest in Citi’s coverage, courtesy of having negligible debt. The broker likes the combination of relative resilience in mining, coupled with optimism regarding the pace of recovery in energy from 2021.
Read MoreThe New Criterion’s Tim Boreham highlights several mining services contractors, large and small, and their potential at this time.
Read MoreCapturing the outstanding long-term opportunities will require staying calm and committed to your investment process.
Read MoreShares in Perth-based engineering company, Monadelphous Group Ltd rose more than 5% yesterday despite the company cutting interim dividend by 12% for the half-year to the end of December.
Read MoreBell Potter has a positive take on Monadelphous due to the announcement of contract awards worth circa $350m, putting it on track to achieve its $1.5bn target in awards for FY20.
Read MoreOn closer inspection of the fundamentals and outlook, we consider that there are a number of factors that could potentially underpin a recovery in Monadelphous. The catalyst for this recovery would be what upcoming AGM on 19 November.
Read MoreFollowing the recent underperformance of the share price, UBS upgrades to Buy from Neutral. The broker expects Monadelphous to return to sales growth in FY20 as it transitions into iron ore replacement and sustaining capital projects from LNG construction.
Read MoreMonadelphous has slashed its dividend, now it’s the raw prawn for salmon farmer Tassal, weak housing has weighed on Beacon Lighting while Asaleo Care has revealed a small return to profit.
Read MoreUBS updates its database for iron ore capital expenditure, now estimating total investment in Western Australia could be around US$21bn. This expenditure is expected to be delivered through FY19-22.
Read MoreThe vagaries of the resources sector and the servicing of it were on display in Perth yesterday for NRW and the much larger Monadelphous Group.
Read MorePerth-based engineering services firm Monadelphous Group has rediscovered its growth mojo, judging by the latest financial report, with help from the rebound in commodity prices and activity, especially in oil, gas, gold and iron ore.
Read MorePerth-based engineering contractor Monadelphous’s (MND) 2015-16 performance got a very solid thumbs down from unimpressed investors yesterday with the shares losing more than 17% by the close.
Read MoreThe downturn in spending in resources, especially mining and oil and gas has again caught up with engineering group Monadelphous (MND) which yesterday issued a warning about a looming fall in first half revenue, and presumably profits.
Read MoreNot unexpectedly, Perth-based contractor and engineer, Monadelphous (MND) reported lower earnings for 2014-15 and slashed its dividend as it looks to another tough year in the resources sector.
Read MoreShares in engineer contractor, the Perth-based Monadelphous Group (MND), jumped by nearly 7% at one stage in trading yesterday after it revealed a market forecast-beating net profit for the full year ending in June.
Read MoreYet another downgrade/warning from the mining services and construction sector, with Perth-based Monadelphous Group (MND) telling shareholders at yesterday’s AGM that revenue and earnings will be down on the record 2012-13 year.
Read MoreEngineering group, Monadelphous Group (MND) says it is looking at an 80 per cent rise in revenue for the 2007 financial year and a doubling in profit; news which sent the company's shares jumping 84c to $13.44.
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