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Wagners Holding Company Ltd (ASX:WGN) offers construction materials and mining services in Australia and worldwide. The company recently released the Half-yearly results for the period ended 31 December 2018.
For the half year period, the company has reported a Net profit before tax (NPBT) of $12.8 million. This was $3.4 million lower than the prior comparative period (pcp). The movement was due to the increased revenue from higher activity in lower margin areas such as the Groups contract haulage services which are now at full fleet utilisation. Also, the Group saw an increase in expenditure for the current period from its investment in the growth of its New Generation Building Materials to the international markets and the Groups fixed concrete plant network expansion.
The EBITDA came in at $16.20 Mn, mainly in line with the guidance provided by the company. The net sales rose on account of the Improved contributions from Cement, Concrete, Aggregates, Transport partially offset by the fall seen in the Projects based work compared to the corresponding prior period.
The company has declared a fully franked interim dividend per ordinary share of 2.20 cps, the record date for which shall be the 4 March 2019 and the payment date has been decided to be 16 April 2019.
The company remains focused on its growth strategy for both the Construction Materials and Services business and the New Generation Building Materials business. The management will continue to invest in capital allowing the company to service opportunities in the resource sector and commit resources to R&D along with business development, in its New Generation Building Materials business. The geographical expansion will be critical to the success of this growth strategy, and the company has now proven its ability to deliver our products and services throughout Australia and internationally.
In the coming months, the management expects to receive DIBt approval for its Earth Friendly Concrete and the company is well advanced with the relevant permissions in India. These approvals will provide enormous opportunities for its Earth Friendly Concrete, allowing international construction companies the ability to use its technology in their projects
Now, letâs have a glance at the companyâs stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $3.020, down by 1.307% during the dayâs trade with a market capitalisation of ~$493.81 Mn. The counter opened the day at $ 3.100, reached the dayâs high of $ 3.180 and touched the dayâs low of $ 3.000 with a daily volume of ~ 103,353. The stock has provided a Year Till Date return of -6.13% & also posted returns of -28.50%, -1.29% & 8.51% over the past six months, three & one-months period respectively. It had a 52-week high price of $ 4.890 and touched 52 weeks low of $ 2.500, with an average volume of 291,001 approximately.
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