Analyst Research Report Snapshot

Title:

MDM ENGINEERING GROUP - MINING CAPEX BOOM ROLLS ON

Price:

$10.00

Provider:

Edison Investment Research

Date:

14 Sep 2012

Pages:

12

Type:

AcrobatPDF

Companies referenced:

MDME.L AAX.AX LYL.AX OTE1V.HE SDM.AX

Available for Immediate Download
Summary:

MDM Engineering Group’s (MDME) strong results for the 12 months ended 31 March 2012 included a doubling of the full-year dividend. MDME’s return to profitability over the last 12 months is on the back of eight current execution projects representing c US$600m of confirmed construction contracts with leading mining industry names. MDME’s blue-chip client base now includes companies such as ENRC, Gold Fields and African Barrick Gold. In its final results released on 20 June, management expressed confidence in FY13, with a pipeline of current and potential projects valued at c US$1.5-2.0bn, and believe the current favourable trading conditions provide further confidence for the current financial year.

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