METS

Dividends back at NRW

Contractor expecting strong financial year 2019

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The final dividend of 2c per share comes with the company having cash holdings of $59 million after earnings in the recently completed financial year increased from $59 million a year earlier to $93.5 million.

The earnings came from a top line totalling $754.3 million, with NRW expecting that to increase to about $1.1 billion in the current financial year.

NRW said $950 million had already been secured with the "tender pipeline" standing at around $6 billion and the company expecting "improving activity levels" in both its targeted sectors for the next five years.

Following repayments totalling $31.3 million net debt at June 30 stood at $34.4 million, giving the company a gearing ratio of 12.6%.

Shares in NRW rose 6% to $1.80 in early trade, capitalising the company at nearly $670 million.

The stock has gained around 70-80% over the past year.

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