Monadelphous Group
(ASX:MND) has reported a net profit of $76 million in FY16. This is 36.7% lower compared to its FY15 net profit result.
The engineering company also reported its sales revenue fell 27% to $1.37 billion – due to lower demand for engineering construction services.
In particular, the company says customers in the energy and resources sectors are focusing on reducing capital expenditure and minimising operating costs.
As for its outlook, the company says those two sectors will remain “challenging over the medium term” due to a prolonged downturn in commodity prices.
Monadelphous has also declared a final dividend of 32 cents per share, fully franked. And this takes the full-year dividend to 60 cents per share.
