Monadelphous Group reported a 10% decline in its revenue in 1HFY23

Monadelphous Group Limited (ASX: MND) announced 1HFY23 results as follows:

• The company's revenue for 1HFY23 was AU$953 million, a 10.5% decrease from the previous corresponding period.
• Maintenance and Industrial Services reached a record half-year revenue result of AU$676.8 million, a 13.5% increase over the previous equivalent period.
• Earnings before interest, tax, depreciation and amortization (EBITDA) for the period were AU$58.2 million, resulting in a 6.11% EBITDA margin percentage for the six months, up from 5.76% for the fiscal year ended 30 June 2022.
• Net profit after tax was AU$29.1 million, a 3.1% decrease from the previous similar period, with profits per share of 30.5 cents.
• The firm finished the period with a strong cash position of AU$190 million, demonstrating a good cash flow conversion rate of 110% over the previous six months.
• The company issued a fully franked interim dividend of 24 cents per share.

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