Press releases

Wits Gold award

MDM's full year results for the year ended 31 March 2014

05 August 2014

MDM Engineering Group Limited (AIM:MDM), the minerals process and project management company focussed on the mining industry, is pleased to announce its audited results for the year ended 31 March 2014.


Highlights

  • Revenue of US$ 108.7 million (2013: US$ 137.2 million);
  • Gross profit of US$ 24.2 million (2013: US$ 33.0 million);
  • Pre-tax profit of US$ 12.2 million (2013: US$ 20.4 million);
  • After tax earnings of US$ 10.4 million (2013: US$ 14.2 million);
  • Basic earnings per share of US 27.66 cents per share (2013: US 37.78 cents);
  • Recommended takeover offer from global engineering and construction group Foster Wheeler
  • Full year dividend of US 8.00 cents per share (2013: US 28.20 cents); and
  • Strong cash position of US$ 23.7 million (2013: US$ 34.6 million) which includes restricted cash of US$ 5.1 million (2013: US$ 5.0 million) and negligible gearing.

MDM’s Chief Executive Officer, Martin Smith commented:
“We are very pleased to announce another positive set of financial results, despite the current difficult market experienced in the resources sector. We could not have achieved this without the hard work and dedication of our team. The demand for MDM’s services remains robust and I am delighted to report that the Company’s order book and pipeline continues to look healthy going into FY2015 and beyond. We are excited about the transaction with Foster Wheeler AG announced on 13 March 2014 and expect to see this close within the third quarter of 2014.”

Financials and Chairman's Statement (PDF)

 

Enquiries:

MDM Engineering Group Limited

Martin Smith (CEO)
George Bennett (Executive Director)

Tel: +27 (0) 11 993 4300

Canaccord Genuity Limited
NOMAD and Broker

Neil Elliot
Chris Fincken

Tel: +44 (0)20 7523 8000

Tavistock Communications
Financial Public Relations and Investor

Emily Fenton
Jos Simson

Tel: +44 (0)20 7920 3150

 

 

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