Press releases

MDM project pipeline shift

MDM Trading Statement


12 April 2012

MDM Engineering Group Limited (“MDM” or the “Company”) (AIM: MDM), the minerals process and project management company focused on the mining industry, today announces a trading update for its financial year ended 31 March 2012. The Company anticipates that the results for the year will be at least 10 per cent. ahead of current market expectations. The Company intends to announce its final audited results on 19 June 2012.
As previously indicated, MDM’s project pipeline significantly recovered during the last quarter of the year to 31 March 2011. Throughout the calendar year 2011 the Company continued to improve as a result of both MDM’s efforts and an improving climate for long-term capital investment projects, resulting in two trading updates advising that results would be ahead of current market expectations.
During the 2012 calendar year, the number of new projects and studies that have been awarded to the Company has continued to grow and, as a result of this better than expected trading, MDM anticipates the results to be at least 10 per cent. ahead of current market expectations. As a consequence of the strong pipeline of current and pending projects, the Company believes that trading for the current financial year will be materially ahead of existing market expectations.

Martin Smith, CEO of MDM commented:
“MDM’s project pipeline continues to exceed current market expectations as the demand for our premium value added services, combined with an improved resources sector and requirement for long-term capital investment projects, increases. We are very encouraged by the momentum that has continued into the 2012 calendar year making us confident that we will continue to accelerate the growth currently experienced into the new financial year.”

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)
George Bennett (Executive Director)
Dominique de la Roche (Finance Director)
Tel: +27 (0) 11 993 4300

Canaccord Genuity Limited

John Prior
Sebastian Jones
Tel: +44 (0)20 7523 8350

Tavistock Communications

Paul Youens
Emily Fenton
Tel: +44 (0)20 7920 3150

KEY INFORMATION:


MDM:
MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company’s clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 24 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management “EPCM” or “cost-plus” basis and on an Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

 

 

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