Valmec Limited announced audited consolidated earnings results for the second half and full year ended June 30, 2017. For the period, the company is headlined by a 43% jump in revenues to AUD 72.9 million against AUD 50.8 million a year ago. Earnings before interest, tax, depreciation and amortization (EBITDA) was AUD 4.1 million up significantly up from the previous year of AUD 3.03 million. Net profit after tax was AUD 1.5 million up from AUD 0.18 million in the previous year. Earnings per share basic and diluted for the period were 1.9 cents against 0.23 cents a year ago. Profit before income tax from continuing operations was AUD 2,216,000 against AUD 670,000 a year ago. Net cash provided by operating activities was AUD 845,000 against net cash used in operating activities of AUD 908,000 a year ago. Purchase of property, plant and equipment was AUD 445,000 against AUD 1,038,000 a year ago. Net debt was AUD 20,560,000 against AUD 16,743,000 a year ago.

For the second half, the company reported revenues of AUD 43 million generated approximately AUD 3 million of fiscal 2017 EBITDA or an EBIDTA margin of 7.5%.

For the fiscal 2018, the company expects this level of EBITA margin to improve even further during the period as a result of increasing and consistent revenues with stronger gross margin recovery. Net profit after tax is expected to strengthen considerably during the period through improved EBITDA margins and reduced depreciation and interest costs.