Engineering firm CivmecLimited has reported a net profit after tax of A$8 million ($6.66 million) for the 3QFY2025 ended March 31, 2025, down from the A$17.1 million reported in the same period a year ago.
For the 9MFY2025, net profit after tax came in at $34.6 million.
The company reported a revenue for 3QFY2025 and 9MFY2025 of A$158.5 million and A$661.3 million respectively. The 3QFY2025 revenue was lower than the A$258.3 million revenue in 3QFY2024, the reporting period a year ago.
Earnings per share for the nine months ended March 31 was 6.8 cents.
Civmec says that the second half of the FY2025 reflects a transition period for the group as it focuses on securing new contracts, after the completion of several major projects earlier this calendar year.
Its expectations for the fourth quarter revenue and earnings are consistent with the 3QFY2025.
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The company recently won A$285 million of contracts, taking its current order book over A$760 million with current tendered works totalling A$13.2 billion.
The company, which is based in Australia, says that new facilities at Port Hedland and Gladstone better position Civmec for maintenance and fabrication in the regions.
The company is also hopeful about the Australian government’s multi-billion-dollar investment to expand Fleet Base West and the Henderson Precinct, which it says will present naval shipbuilding and infrastructure opportunities.
Shares in Civmec closed 1 cent lower or 1.258% down at 78.5 cents on May 8.
