Perenti (ASX:PRN) has delivered its interim financial performance for the first half of FY25, setting a new revenue record and reaffirming its full-year guidance.
The company posted revenue of $1.73 billion, a 6% increase from H1 FY24, reflecting strong operational execution and growth across its divisions.
Underlying EBIT(A) rose 3% to $155 million, while underlying NPAT(A) climbed 4% to $82 million.
Statutory net profit after tax stood at $64 million, lower than H1 FY24 due to a non-cash gain from the DDH1 acquisition recognised in the previous period.
Despite a temporary dip in free cash flow to $11.8 million, adjusted free cash flow reached $30.6 million, with expectations to exceed $150 million for the full fiscal year.
Perenti increased its interim dividend to 3 cents per share, up from 2 cents in H1 FY24.
Managing Director and CEO Mark Norwell commented, "This resilience comes from establishing a global and diversified portfolio of mining services and our scale, particularly in underground mining and drilling."
He noted strong cash flow from Contract Mining and Drilling Services, which has enabled debt reduction, share buybacks, and dividend growth.
Perenti’s outlook remains positive, supported by a $4.7 billion work pipeline and visibility on potential projects worth $17.1 billion.
The company reaffirmed its FY25 guidance, projecting revenue between $3.4 billion and $3.6 billion, EBIT(A) of $325 million to $345 million, and free cash flow exceeding $150 million.
At the time of reporting, Perenti's share price was $1.16.