15th Oct 2018 11:55
LONDON (Alliance News) - Management Resource Solutions PLC on Monday said it expects an increase in earnings in its recently ended financial year as a result of lower expenses and higher demand for its services.
For the year to the end of June, the technical and strategic services supplier said it expects to report net revenue of AUD68.4 million, compared to AUD52.4 million in financial 2017.
Earnings before interest, taxes, depreciation, and amortization are anticipated to came in at AUD12.3 million versus the AUD4.9 million Ebitda loss reported a year earlier.
Management Resource Solutions said it expects to report net pretax profit of AUD6.1 million, swinging from a loss of AUD10.8 million in the prior year.
The company explained that earnings growth was driven by strong demand for its services in the resources and construction markets in Australia, continued investment in core profitable assets, and cost management.
"The financial 2018 year has been a watershed year for the Management Resource Solutions, being able to focus on the core operations of Fabrication, Mechanical and Civil & Earthworks, with reduced distractions from the discontinued operations of financial year 2017," said Chief Executive Paul Brenton.
"The Management Resource Solutions has invested significantly in our people and core profitable assets in the financial year 2018, which has driven this strong Ebitda result," added Brenton.
The company said it will issue its full set of annual results in December.
Management Resource Solutions shares were down 1.2% on Monday at 7.21 pence each.
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