Earnings growth for Emeco

EQUIPMENT rental player Emeco has posted its first profit in nearly four years.

Earnings growth for Emeco Earnings growth for Emeco Earnings growth for Emeco Earnings growth for Emeco Earnings growth for Emeco

The company posted an operating net profit after tax of A$14.4 million, the first since 2013, on a huge rise in revenue from $73.6 million to $171.1 million year-on-year.

Operating earnings before interest, tax, depreciation and amortisation were up by 140% to $67 million, while the EBITDA margin increased to 39.2% from 37.9%.

EBIT jumped by 971% to $37.5 million.

Emeco managing director Ian Testrow said the company continued to execute on its strategy to become a high-quality, low-cost provider of mining rental equipment solutions with increased earnings and scale, enhanced component rebuild capabilities and a stronger balance sheet.

Last year was a pivotal one for Emeco...