Duratec boss Chris Oates says he is confident the engineering firm is ideally placed heading into the second half of FY26.
Duratec boss Chris Oates says he is confident the engineering firm is ideally placed heading into the second half of FY26.
Wangara-based Duratec posted a first half net profit after tax of $13.4 million, an increase of 3.5 per cent from the prior corresponding period.
Its board also declared an interim dividend of 1.75 cents per share, fully franked.
The company said this result was primarily driven by two factors – period profits, along with a lower effective tax rate on both employee share trust deductions and equity accounted profits relating to DDR Australia Group, with these elements already taxed.
Duratec’s revenue dipped by 4.9 per cent from $287.2 million to $273.3 million, predominantly across its defence, mining/industrial and energy sectors courtesy of delivering phasing and project timing.
Despite this, the company attained record revenue across its emerging and building/façade divisions.
Duratec’s reported EBITA shed 0.3 per cent to $25 million, while its normalised EBITDA rose 2 per cent to $27.4 million.
With an increased orderbook of $400 million, coupled by several multiple acquisitions during the first half, Mr Oates said he was optimistic that Duratec would
“It has been encouraging to see an uplift in recent wins, and although revenue remained flat in the first half, we delivered a record EBITDA margin," he said.
"This performance has positioned the business extremely well for the second half and for the years ahead.”
In FY25, the engineering firm posted a full-year net profit of $22.8 million, which increased by
Duratec closed trade up 2 per cent to $2.33.
