Engineering group Monadelphous has stepped up its workers recruitment retention efforts by casting a wider internet abroad and surveying its workforce because it copes with what it says is its largest problem.
Saying a well-flagged drop in income and revenue for the primary half of the yr, Monadelphous on Tuesday mentioned it had ramped up recruitment in goal areas abroad and launched “a expertise intelligence” platform to assist determine new employees.
“The scarcity of labor continues to be probably the most vital problem for the corporate’s operations,” it mentioned.
“Heightening provide chain dangers and an escalating price atmosphere are additionally posing challenges.”
The Perth-based contractor revealed an almost 10 % fall in income of $953 million in comparison with the identical time a yr earlier. Nevertheless it famous it was a document half for its upkeep and industrial providers enterprise., which made up the lion’s share of whole income at $676.8m.
Its engineering building division skilled decrease ranges of exercise on account of plenty of huge building tasks finishing within the earlier monetary yr and the timing of the award and graduation of recent tasks.
That harm the corporate’s internet revenue for the half, which was down simply over three % in comparison with the earlier corresponding interval to $29.14m.
Monadelphous’ board maintained an interim dividend of 24c a share.
The corporate mentioned it had booked $945m of recent work to date this monetary yr, with greater than half of that within the iron ore sector, particularly with Andrew Forrest’s Fortescue Metals Group.
New managing director Zoran Bebic mentioned whereas international financial development was forecast to stay regular, commodity costs had been robust and the outlook for Monadelphous’ core markets continued to be optimistic.
“The assets and power sectors, each in Australia and abroad, proceed to supply a big variety of prospects for Monadelphous throughout a broad vary of commodities, together with iron ore, battery metals and oil and gasoline,” Mr Bebic mentioned.
