Monadelphous expects first-half profit to exceed estimates
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The news: Engineering firm Monadelphous Group said that it expects profit after tax for the six months ending 31 December to exceed consensus forecasts.
The numbers: The company said its draft results indicate that profit after tax has been favourably impacted by a $7 million variance, after tax, in non-operating items when compared to the prior corresponding period.
First-half profit after tax is expected to be in the range of $40 million to $43 million, it said.
Monadelphous shares were last up 1.7% at $14.30 and over the last 12 months has risen 3.55%.
The context: Monadelphous said the its first-half results remain subject to finalisation of its full reporting process, as well as review by the company's auditors.
The source: ASX announcement
