Shaft Sinkers Holdings plc Final Results - Profit before income tax up 34%
14
April
2011
Shaft Sinkers Holdings plc (“Shaft Sinkers”; “the Group” or the “Company”), the international shaft sinking and underground construction group, is pleased to announce final results for the year ended 31 December 2010.
Financials
- Revenue of GBP183.1 million up 24% to (2009: GBP147.9 million)
- Profit before Income Tax of GBP16.7 million, an increase of 34% (2009: GBP12.5 million)
- Basic Earnings per Share of 30p up 27% (2009: 24p)
- Strong financial position with net Cash and Cash Equivalents of GBP11.1 million at year end (2009: net borrowings of GBP6.6 million)
Highlights
- Successful listing on the London Stock Exchange on 23 December 2010 raising approximately £30.6 million
- Committed £488 million order book over the next four years
- Award of Styldrift contract with new clients Anglo Platinum and Royal Bafokeng Nation
- Extension to Moab contract
- Disposal of Eureka gold mine stake in Zimbabwe
Commenting on the results Alon Davidov, CEO of Shaft Sinkers Holdings plc, said:
"I am pleased to report that the group has exceeded our expectations for the 2010 financial year. This year marked a new chapter in Shaft Sinkers’ history with our listing on the London Stock Exchange on 23 December 2010. In 2011 we look forward to delivering on our strategy of expanding internationally using our solid funding base and to create value for our new shareholders."
| Enquiries |
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Shaft Sinkers Holdings plc
| + 27 (0) 11 445 4407 |
| Alon Davidov, Chief Executive Officer |
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| Chris Hall, Chief Financial Officer |
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| M:Communications | +44 (0) 20 7920 2330 |
| Elly Williamson |
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| Marylène Guernier |
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