Perenti has delivered record half-year results for the first half of the 2023–24 financial year (H1 FY24), with the company recording $1.6 billion in revenue.
The mining services company also recorded $312.4 million in underlying earnings before interest, taxes, depreciation, and amortisation, and $69.8 million in net profit after tax.
Perenti said the record results were supported by its acquisition of DDH1, which was completed in October 2023.
“With the completion of the transformative acquisition of DDH1, Perenti is pleased to have welcomed the committed and highly capable DDH1 employees into the wider group,” Perenti managing director and chief executive officer Mark Norwell said.
“Integration activities are progressing extremely well, with strong cultural alignment, which has already established a sense of camaraderie within the newly created drilling services division.”
Perenti’s total recordable injury frequency rate (TRIFR) saw an 0.2 increase, going from 5.8 recorded in the first half of FY23 to 6.0 in H1 FY24. Its serious potential incident frequency rate (SPIFR) also increased from 2.3 to 3.0.
The company cited the inclusion of DDH1 into the group statistics as the reason for the TRIFR increase but said the SPIFR increase reflected improved reporting to enable organisational learning and continual improvement to keeping Perenti Group workers safe.
“The ongoing performance of our business is a credit to our 11,000 people across the organisation,” Norwell said “The safety and wellbeing of our people remains our number one focus of our sustainability priorities as announced in 2023.”
Perenti said every division performed in-line with its expectations during H1 FY24, and it expects for the consolidated business to deliver strong results in H2 FY24.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
