Southern Cross Electrical Engineering revenue soars

Company News

by Anna Napoli

Southern Cross Electrical Engineering (ASX:SXE) has announced an underlying net profit after tax (NPAT) of $4.6 million for the half year to December 2017.

Revenue is up by 187 per cent on the same time last year to $176 million.

In more good news the company reported earnings (EBITDA) of $8.6 million compared to a loss of $1.8 million in the prior corresponding period.

The change comes after the acquisition of leading east coast electrical contractor Heyday.

This year’s revenue is expected to rise about $350 million

Shares in Southern Cross Electrical Engineering (ASX:SXE) are trading 4.76 per cent higher to $0.77.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.