Boom mining labour hire firm, Mader Group, has continued its march towards A$1 billion annual revenue with “step change” growth in the first half of FY24. The company reported a 34% year-on-year increase in revenue to $374.4 million, with EBITDA 43% higher yoy at $48.5m and net profit up 38% at $24.2m
The supplier of specialised heavy-equipment maintenance services and technical support operates predominantly in Australia, Canada and the USA.
“Given current macro-economic conditions and steady demand for services in multiple industries globally, Mader reaffirms its guidance of FY24 revenue of at least $770m and NPAT of at least $50m,” management said.
“As we head into 2H FY24, we are well positioned to leverage our multifaceted offerings and geographical reach to continue to build diversified revenue streams.”
ASX-listed Mader’s share price is up about 40% over the past 12 months, capitalising the company at $1.28 billion.
