GR Engineering revenue hits $272.1m

Ascot-based GR Engineering Services increased its revenue to $272.1 million during the first six months of the 2025 year – up $84.8 million from the prior corresponding period. 

Tony Patrizi-led GR told the market this rise was predominantly due to providing increased operation and maintenance-based services to the energy sector.

The company’s net profit also rose to $21.8 million from $14.3 million in 1H FY24, as did its earnings before interest, tax, depreciation and amortisation – up from $22.6 million to $34.5 million. 

Additionally, GR’s board has elected to increase its interim dividend to 10 cents per share, fully-franked.

“The group’s contracted and near term pipeline across the business is solid and is continuing to grow,” Mr Patrizi said.

As of December 31 2024, the contractor had $111.8 million worth of cash and cash equivalents in the till, up from $74.6 million during the prior corresponding period, while its total equity hit $72.9 million – with $21.6 million of this comprised of retained earnings. 

GR shares were up 5 per cent to $3.02 as of 11.40am AWST. Earlier in the session, it reached $3.06, a record price for the company.