Mader maintains positive growth outlook

Richard Roberts

Editor in chief

‘The size of the addressable market is huge’

Boom Australian mine and infrastructure maintenance company Mader Group has flagged potential M&A to complement high organic growth rates that delivered FY23 first-half revenue of A$280.3 million and led to another upgrade of its full-year target.

Mader, which broke through 2500 employees during the December half, is now saying FY23 revenue and net profit after tax will be “at least” $580 million and $37m, respectively.

Asked about prospects for further adjustment given the 51% year-on-year growth in the latest half, and 29% sequential expansion from the second half of FY22 into FY23 H1, Mader CEO Justin Nuich said he’d rather “under-promise and over-deliver”.

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