MLG Oz has reported bumper results for the first half of the 2024–25 financial year (H1 FY25), bringing in $272.9 million in revenue.
The mining services company credited the 20.5 per cent revenue increase to “organic growth” driven by clients and scope changes to various projects. MLG’s mine site services and bulk haulage services brought in $246.7 million and the crushing and screening services delivered $21.9 million.
MLG delivered $29.3 million in earnings before interest, tax, depreciation and amortisation for H1 FY25, a 2.8 per cent increase from the prior corresponding period, and $4.1 million in net profit after tax.
MLG founder and managing director Murray Leahy said the company’s financial performance for H1 FY25 was “very much in line with expectations”, with the gold sector a standout due to the commodity’s price high and production demand.
“Our clients have been through a period of resetting their production targets to maximise volumes and during this period we have acquired a significant amount of new fleet,” Leahy said.
“The high gold price is very supportive of further growth through 2025 and into 2026 and we remain very well placed to capitalise on the demand for our integrated services.”
MLG spent $29.2 million on new equipment during the period and purchased a dedicated accommodation facility in Kalgoorlie, Western Australia for $3.5 million. The facility replaced rented housing accommodation, reducing operational costs.
“Whilst continuing to field a large volume of enquiry from our gold customer base, we continue to optimise our portfolio of projects across the gold fields to maximise the utilisation of our fleet,” Leahy said.
“Our civils business continues to expand, and we expect our crushing revenue to grow, which will contribute to higher margins in the second half. Overall, we are very well placed to further benefit from our market position delivering further growth in profitability.”
In other MLG news, the company is set to deliver bulk haulage services across Westgold Resources’ Southern Goldfields operations in WA.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
