Provider of integrated mining products and services Industrea Ltd
(ASX:IDL) says it expects to report net profit after tax of between $48 million to $54 million on revenue of between $300 million and $330 million in fiscal 2010.
The company says growth across its mining services, diesel equipment, technology and international divisions is helping to lift revenue in fiscal 2010.
However it expects to post net profit after tax of between $17.2 million and $17.8 million for the first half, down on the $24.6 million recorded for the same period a year ago due to the impact of losing the Xstrata Handlebar Hill contract and a delay in the timing of technology sales.
CEO Robin Levison says that while the first half result reflects the impact of the global financial crisis on the Australian mining industry, the recent upturn in global commodity markets and China’s renewed push towards improved productivity and safety in its underground coal mining industry has positioned Industrea well to achieve increased revenue and profits for the year to June 30, 2010.
Industrea posted a profit for the 12 months to June 30, 2009.
