Swick says turnaround underway

SWICK Mining Services has delivered an “earnings turnaround” after a disappointing 2017 fiscal year, with a 227% increase in cashflow and strong momentum tipped for 2018-19, as it reduced its net loss after tax from A$4.6 million to a loss of just $1 million.

Swick says turnaround underway Swick says turnaround underway Swick says turnaround underway Swick says turnaround underway Swick says turnaround underway

Group revenue was up 6% on 2016-17 to $138 million while EBITDA was up 44% to $17 million and EBIT moved from $3.6 million in the red to a narrow $400,000 in the black, supporting free cashflo...