Monadelphous Group Limited
(ASX:MND) jumped to the best performer of the S&P/ASX 200 yesterday after delivering a record first half profit and highlighting its ability to secure future contracts.
The engineering group improved its interim profit by 10 per cent to $87.1 million in the last six months of 2013.
Managing Director Rob Velletri has described the results as solid and advised the company is in a strong position to secure new contracts in both upstream and downstream LNG developments.
Mr Velletri says while mining and minerals markets have softened bidding activity in the oil and gas market remains high.
An interim dividend of 60 cents per share has been declared, 3.2 per cent down from the year before.
Shares in Monadelphous Group jumped 9.69 per cent to close at $17.10 following its results announcement yesterday.
