METS

Belt-tightening leads to profit

ENGINEERING group Monadelphous has logged a record net profit after tax of $A87.1 million for the first half of the financial year, despite tightening conditions in the mining and minerals sector, and a slowing down of construction activity.

Andrew Snelling
Belt-tightening leads to profit

The company recorded the 10.1% improvement on the previous corresponding period as it went about “consolidating and right-sizing the business”, achieving annualised cost-savings to the tune of $34 million...

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