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Decmil Group Limited (ASX:DCG) is a provider of engineering, construction and maintenance, and industrial services to Australia's resources, energy and infrastructure sectors. The Company designs builds and commission temporary and permanent facilities, including accommodation villages, administration buildings, maintenance and storage facilities, and complete civil concrete work.
The company has recently stated that in the joint venture with McConnell Dowell, it has been appointed preferred tenderer by Major Road Projects Victoria for the Mordialloc Freeway project.
An early works contract valued at $25 million has been awarded for detailed design works to commence immediately. The main works are expected to be granted by the end of 2019 upon the completion of the Environmental Planning Approval process currently underway. The project will link the Mornington Peninsula Freeway to the Dingley Bypass. This will create one continuous freeway from Frankston to Clayton.
The management of the company has declared an ordinary dividend of AUD 0.01000000. This dividend relates to a period of six months. The management has determined the Ex-Date to be Thursday, March 7, 2019. The record date for the purpose of determining the eligibility shall be Friday, March 8, 2019, and subsequently, the payment date shall be Wednesday, March 27, 2019. This dividend payment shall be 100% franked.
The company for the period ended 31 December 2018, reported a revenue from continuing operations of $275.7 million. This increased by 96% on the comparative period as the Company secured several new and larger contracts in the later part of the 2018 calendar year including the Drysdale Bypass project ($86 million), QGC framework agreement ($150 million), Sunraysia solar farm ($277 million) and the expansion of the BHP Mulla project (to $153 million).
Earnings from continuing operations before interest, tax, and depreciation was $9.3 million reflecting a significant increase in the comparison to the prior period of $1.3 million.
The Group generated operating cash flow of $30.9 million for the six months ended 31 December 2018 (prior period $1.7 million). The Groupâs balance sheet reflected an overall net cash position, no drawn core senior secured debt and net assets of $229 million. Cash and cash equivalents at 31 December 2018 stood at $95.4 million.
Now, letâs have a look at Decmil Group Limitedâs stock performance and the return it has posted over the past few months. At the time of writing (AEST 04:00 PM, 05 March 2019), Decmil Group Limitedâs stock is trading in green as its stock price is witnessing the rise of A$0.015 per share or 1.724%. The companyâs stock is presently trading at A$0.885 per share with the market capitalization of ~$ 207.21 Mn. The counter opened the day at $ 0.875 and reached the dayâs high of $ 0.890 and touched a dayâs low of $ 0.865 with a daily volume of ~ 1,271,844. The stock has provided a YTD return of 25.18% & also posted returns of 7.41%, 22.54% & 20% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 1.260 and touched 52 weeks low of $ 0.650, with an average volume of ~ 323,547.
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