Heavy earthmoving equipment company Emeco
(ASX:EHL) has reported EBITDA margin growth of 35 per cent in its FY2018 Q1 results.
Group operating EBITDA is up 7 per cent from $29.1 million in the last quarter of FY2017 to $31.2 million in the September quarter this year.
Utilisation rates increased to 58 per cent in the first quarter of FY2018 from 52 per cent the previous quarter.
The company continued to improve its safety performance throughout the quarter, reducing its recordable injury frequency rate to 1.8 from 2.2, and its long-term injury frequency remains at zero.
Emeco has entered an agreement with management consultancy Mitsui to collaborate on potential mining business opportunities.
Shares in Emeco
(ASX:EHL) are trading 3.19 per cent higher to $0.24.
