Civmec, which provides heavy engineering and construction services, is seeing a turnaround as the worst of the pandemic, which disrupted the flow of supplies, manpower and projects, appears to be over.
For 1HFY2021 ended December 2020, the Australia-based firm reported revenue of A$306 million ($316 million) and earnings of A$15 million, nearly double the A$166 million revenue and A$8 million earnings reported for the same period a year earlier. The company, with listings on both the Australian and Singapore exchanges, also declared its very first interim dividend of A$0.01 per share.
From the recent low of 25 cents during the sell-off last March, Civmec’s Singapore-quoted shares have reflected the improvement, recovering to as high as 63 cents on March 2. It closed on May 4 at 52.5 cents, giving it a market value of $263.45 million. At this level, Civmec is trading at 10.5 times earnings.