Emeco sights improvement on back of demand and markets

Company News

by Rachael Jones

Earth moving equipment company Emeco (ASX:EHL) has reported its net loss has improved in the first half of this financial year from $300,000 an improvent on its $31 million loss for the same period last year.

It comes as Emeco’s revenue charged ahead in the period up over 133 per cent to $171 million compared to the 2017 half year.

Its operating earnings or EBIT surged over 970 per cent to $37.5 million.

Outlook for the remainder of the year looks positive with improved market conditions with project wins and an increased demand for equipment.

Shares in Emeco (ASX:EHL) closed 1.7 per cent higher yesterday at $0.30.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.