Engineering service provider RCR Tomlinson expects to record an increase in net profit after tax (NPAT) of 15 per cent for the 2010 financial year.
Engineering service provider RCR Tomlinson expects to record an increase in net profit after tax (NPAT) of 15 per cent for the 2010 financial year.
Last financial year the company recorded a profit of $13.95 million.
In a statement the company said the expected profit positioned RCR for future growth and reflected a focus on restructuring.
"The improving financial performance of the Company is pleasing and a credit to every member of the organisation," said chief executive officer, Paul Dalgleish.
"The recent restructuring and greater attention to all aspects of the Company's finances positions us better to capitalise on the increasing activity we are seeing in most of our businesses," he said.
RCR will announce its full results for the financial year on or about 23 August 2010.
See full company statement below:
Integrated engineering company RCR Tomlinson Ltd (ASX: RCR) is pleased to announce an expected increase in Net Profit After Tax (NPAT) for the full year ended 30 June 2010 of over 15 per cent on the prior comparative period (FY09).
This result, the first under the new management team led by Chief Executive Officer Dr Paul Dalgleish, positions RCR for future growth and reflects a focus on restructuring, including:
- tighter financial and fiscal management
- the ongoing elimination of underperforming business streams and legacy contracts
- investment in R&D delivering new products and after tax returns
- the development of a stronger management team
"The improving financial performance of the Company is pleasing and a credit to every member of the organisation. The recent restructuring and greater attention to all aspects of the Company's finances positions us better to capitalise on the increasing activity we are seeing in most of our businesses," Dr Dalgleish said. "The new management team, the strong order book and the exposure to major growth sectors provides the foundation for continued performance improvements in FY2011".
RCR will announce its full results for the financial year ended 30 June 2010 on or about the 23 August 2010. This will follow the finalisation of accounts, completion of the audit and consideration by the Board.
