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Mincon profit rises 20% on higher sales
StockMarketWire.com
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Irish rock-drilling tool specialist Mincon posted a 20% rise in annual profit as it continued to generate revenue from mining and geotechnical contracts throughout the pandemic.
Pre-tax profit for the year through December increased to €17.1 million, up from €14.2 million year-on-year.
Revenue rose 7.7% to €129.9 million and operating profit rose 55% to €18.2 million.
Mincon declared a final dividend of 2.1c per share, in line with the total dividend for 2019 and the company's previous guidance.
'Mincon equipment is widely used for essential projects and services, so in many markets our manufacturing facilities were able to continue operating,' the company said.
'Similarly, Mincon's direct-to-market approach meant that our service centres remained productive and continued to deliver excellent, customer service, safely and responsibly.'
At 8:01am: (LON:MCON) Mincon Group Plc share price was 0p at 87p
Story provided by StockMarketWire.com
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