Macmahon Holdings Ltd
(ASX:MAH) has recorded a 120% jump in net profit to $37.9 million for the year to 30 June, and increased its order book by 50% to $2.2 billion.
The engineering contractor has also doubled its total dividends for the year to 3 cents per share.
Revenue dropped 16% to $1.25 million, the company attributing client imposed cancellations and scale backs during 2009 for the decline.
CEO Nick Bowen says however, the company achieved its objective of rebuilding the order book and consolidating its financial position.
Mr Bowen adds that all mining contracts which were due for renewal were rolled over, including the $500 million Orebody18/Wheelarra open cut contract in the Pilbara region of Western Australia.
Macmahon Holdings reported a profit of $17.2 million for the year to 30 June 2009.
