5th Aug 2025 13:36
(Alliance News) - Mincon Group PLC on Tuesday reported a swing to profit during the first half of 2025, buoyed by a return to growth in its Construction business.
The Shannon, Ireland-based engineering firm said pretax profit was EUR2.4 million for the six months that ended June 30, swung from a EUR867,000 loss a year before.
Revenue for the first half grew 9.0% to EUR74.1 million from EUR68.0 million, while operating costs increased 5.8% to EUR18.2 million from EUR17.2 million.
The improvement in earnings was attributed largely to 47% revenue growth within its Construction segment, against a 23% decline a year earlier. The firm's Mining revenue, on the other hand, declined 13%, while its Waterwell/Geothermal unit fell 9% on-year during the six-month period.
Earnings before interest, tax, depreciation and amortisation jumped 84% to EUR8.3 million from EUR4.7 million.
Mincon reported a EUR1.5 million gain on disposal of property, plant and equipment, against just a EUR133,000 gain a year prior.
"I am pleased to report that the first half of 2025 showed a return to growth with higher revenue than the prior year but more importantly a significant recovery in our margins. This improved performance has been driven by increases in our construction revenues. This strong construction performance is due to a combination of our superior engineered product offering as well as onsite service support," said Chief Executive Officer Joseph Purcell.
"In conjunction with our improved sales, we have continued our focus on driving operational efficiencies across the group, which is enhancing our margins and competitiveness."
Shares in Mincon were up 4.5% at 33.45 pence in London on Tuesday afternoon. The stock is down 4.4% over the past year.
CEO Purcell said: "The increased opportunity we see in construction should be supplemented by growth that our product development can unlock in mining and in time with renewables. We are building positive momentum, and we need to remain focused on improving our competitive position, while delivering on the opportunities we have worked so hard to create."
By Emily Parsons, Alliance News reporter
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