Mader Group Limited (ASX: MAD) has exceeded forecast revenue for Q1 FY2020 (quarter ending 30 September 2019). The company confirmed that its estimated net profit for the first quarter is in line with the forecast. The company’s reported revenue for Q1 2020 was $67.1 million representing a 6 per cent increase from Q4 FY 2019.
Segmental Revenue Overview
- The Revenue for the United States increased to $1.80 million from $0.87 million in Q4 2019
- Western Australia segment revenue has shown an increment of 6 per cent from $41.2 million (Q4 2019) to $43.8 million in Q1 FY 2020
- International (Africa, Asia and South America) segment revenue decreased by 26 per cent due to reduced contract volumes. The company recorded $4.7 million in Q1 FY2020 against $6.4 million in Q4 FY 2019.
Madder Group has recently entered new contracts in West Africa in Q2 FY2020. It is negotiating for further scopes of work in Central Africa and Southeast Asia which is expected to lead to a stronger Q3 and Q4 FY2020.