For the full fiscal year to June 30, Perenti's revenue increased 16% to $3.34 billion, while net profit from ordinary activities after tax slightly declined 0.3% to $95.5 million.
The profit drop reflects ongoing challenges, including the transformative acquisition of DDH1, which enhanced Perenti's drilling capabilities.
"Our focus on diversification and operational excellence positions us well for future growth," said CEO Mark Norwell.
The DDH1 acquisition has solidified Perenti’s status as a leading global drilling service provider.
The restructured Drilling Services division contributed $598 million in revenue, leading to an EBIT(A) of AUD 314.2 million, up 19% from last year. Improvements in contract management and overhead optimisation were key to this success.
A final partially franked dividend of 4 cents per share will be paid on Oct. 23, with a record date of Oct. 9.
Meanwhile, Norwell, saw his pay decrease by $862,0000 following a series of fatalities and shareholder concerns over safety.
For FY24, Norwell's remuneration dropped to $3.12 million, down from $3.98 million the previous year.
The pay cut followed the death of a Perenti worker at Burkina Faso's Mano gold mine in February, the fifth fatality in less than two years, sparking questions about the effectiveness of Perenti's safety measures.
In response, Perenti's board, under new chair Diane Smith-Gander, reduced short-term incentives for top executives, including a 27.5% cut for Norwell.
Perenti is a diversified global mining services company with interests in contract mining, mining support services and future technology solutions. The company’s segments include contract mining, drilling services and mining services and idoba.