The civil and mining services contractor posted an underlying net profit of $114.8 million in FY26, a rise of 12 per cent, while its statutory net profit jumped by 37 per cent to $101.1 million.
Propelled by an eight per cent increase in revenue to $2.6 billion, Macmahon’s board increased its final dividend, resulting in a full-year total dividend of 2.2 cents per share, fully franked.
In FY27, Michael Finnegan-led Macmahon told investors it had set its annual revenue guidance between $2.85 and $3.05 billion, with $2.2 billion already secured. Additionally, its underlying EBIT target range is $205-225 million.
As of 11.15am AWST, Macmahon shares were down 8 per cent to 91.3 cents, hitting a low of 87.8 cents around 45 minutes into the morning trading session. It closed trade on Monday at 99 cents.
Moving forward, the company says its present order book of $5.9 billion, coupled by a $25 billion tender pipeline of identified opportunities would hold it in good stead in terms of strong growth.
“Macmahon delivered a strong financial performance in FY26 with continued growth in revenue and underlying earnings, while reducing net debt and increasing returns to shareholders,” Mr Finnegan said.
“This is the tenth consecutive year we have met or exceeded market guidance.
“Importantly, we have again delivered on our objective of improving return on average capital employed and are tracking well towards our target of 25 per cent.
“This is underpinned by our growth strategy focused on continuing to diversify the business by expanding our addressable market and expanding our service offering across the mining value chain.”
As of June 30, Macmahon had $309.6 million in cash and cash equivalents, up from $263.8 million in FY25, while its total equity rose from $692.3 million to $740.1 million.
Since the start of FY27, the listed contractor has secured a suite of contracts, including a $406 million underground mining services deal in New Zealand and a $355 million agreement for works at the Mt Marion lithium mine.
