Emeco announces 10% rise 4Q18 earnings

Company News

by Anna Napoli

Emeco (ASX:EHL) has provided a trading update and preliminary unaudited results for the fourth quarter and 2018 financial year.

The earth-moving equipment company has announced a 10 per cent rise in fourth quarter earnings (EBITDA) to $45 million.

For the 2018 financial year Emeco increased operating earnings by 83 per cent to $153 million.

The company says it has continued to deleverage its balance sheet and reduce net debt in financial year 18.

Emeco CEO, Ian Testrow says the company has sustained its strong performance in the fourth quarter with continued increases in operating utilization and earnings.

Shares in Emeco (ASX:EHL) are trading 1.43 per cent higher to 35c.
 

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.