Revenue drops for Brierty

Operating revenue fell 41% to $61.6 million, while earnings before interest, tax, depreciation and amortisation fell 37% to $7 million.The company said the fall in revenue was due to the cancellation or deferment of major projects.Brierty said the profit figure indicated the company could maintain operating margins despite lower revenue.“The result shows the benefits of the internal restructuring and cost-control initiatives put in place at Brierty during the past two years,” managing director Stuart Crofts said.“The way we now have the business structured will provide us with a solid platform to grow profitability as opportunities arise in what we expect to be a strengthening market, driven by WA resources projects.”In the past month, Brierty has secured $20 million in new contracts, including the contract to rehabilitate the closed Pillara zinc mine in the Kimberley region of Western Australia.

Send this to a friend