Lycopodium Limited
ABN 83 098 556 159
Level 5, 1 Adelaide Terrace
East Perth, Western Australia 6004 Australia
PO Box 6832
East Perth, Western Australia 6892 Australia
T: +61 (0) 8 6210 5222www.lycopodium.com.au
ASX RELEASE
23 February 2018
FIRST HALF 2017/2018 FINANCIAL YEAR RESULTS AND UPDATE
The Directors of Lycopodium are pleased to report the results from the first half of the 2017/2018 financial year, achieving $91.5 million of revenue and net profit after tax of $7.3 million.
Commensurate with these results, the full year forecast for 2017/2018 has been increased to $190 million of revenue and a net profit after tax of $16.5 million. Our result for the half year exceeded expectations due to the successful completion of a number of key contracts during the period.
The Directors have resolved to pay an interim dividend of 12 cents per share fully franked, payable on 13 April 2018.
Corporate Overview
In keeping with our advice in August 2017 Lycopodium has remained busy across all parts of the business, particularly in the delivery of services to the Mineral Resources sector. We continue to execute our strategies and have seen the Company successfully deliver professional services in the Minerals Resources as well as Infrastructure and Process Industry sectors across a significant number of geographical regions.
In Mineral Resources we have successfully completed the Houndé and Karma Expansion Projects in Burkina Faso for Endeavour Mining and the Fekola Project in Mali for B2 Gold, having provided the EPCM and EP services respectively for those clients. We have also successfully delivered the Mako (Petowal) Project in Senegal for Toro Gold and the Sissingué Project in Côte d'Ivoire for Perseus Mining on an EPC basis. We remain busy on a number of key projects and studies across all our offices and areas of operation.
In Infrastructure we have seen a steady level of activity particularly in the areas of rail infrastructure management and general asset management services.
Further detail on Lycopodium's financial results during the first half is included in the attached ASX Half Year Information. The first half results are also supplemented by our historical segment reporting format, which is appended to this update.
On behalf of the Board of Directors I extend our appreciation to Lycopodium's management and staff for their continued contribution to the Company.
We will continue to keep you informed of the Company's activities through the year and you can visit us through our website atwww.lycopodium.com.au or feel free to call us if there is anything about the company and its activities you would like to discuss.
For further information:
PETER DE LEO MANAGING DIRECTOR
Telephone: +61 8 6210 5222
Lycopodium Ltd
Segment reporting (unaudited) HYE 31 December 2017
Segment Revenues Dec-17 Dec-16
Segment Results Dec-17 Dec-16
EPCM | 24,106,466 | 21,452,008 | 5,417,864 | 4,067,744 |
Design & construct (lump sum) | 27,058,247 | 43,820,772 | 2,001,505 | 2,041,774 |
Study services | 6,715,705 | 5,563,275 | 725,088 | 667,932 |
Project services | 31,517,707 | 30,224,919 | 5,076,010 | 5,281,804 |
89,398,125 | 101,060,974 | 13,220,466 | 12,059,254 | |
Unallocated revenue | 2,047,956 | 974,952 | 0 | 0 |
91,446,081 | 102,035,927 | 13,220,466 | 12,059,254 | |
Unallocated revenue less unallocated expenses | (4,152,957) | (4,651,437) | ||
Profit before income tax expense | 9,067,509 | 7,407,817 | ||
Income tax expense | (1,743,479) | (2,147,756) | ||
Profit for the half-year | 7,324,030 | 5,260,061 | ||
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Lycopodium Limited
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