• Revenue down 25.4% to $30.2 million
• Profit up 23.0% to $550,000
• Interim dividend of 15.0 cents per share

Embelton Limited and its controlled entities have reported their half-yearly results for the period ended 31 December 2024. Revenue from ordinary activities decreased by 25.4% to $30.2 million, while profit from ordinary activities after income tax attributable to members increased by 23.0% to $550,000. The company cited a significant reduction in earnings reflecting the slow-down in residential and commercial construction around Australia, as well as a general decrease in the size of available projects leading to more competition and margin pressure. However, the company was able to reduce costs, lower interest expenses, and manage its existing work more effectively, leading to the increase in profitability. The outlook for the remainder of the financial year remains subdued due to a modest pipeline of work, but the company is focused on cost control and efficient use of working capital. Meanwhile, tender opportunities for new work are on the rise, and the company is working to build a pipeline of future work. The directors have declared an interim dividend of 15.0 cents per share, to be paid on 11 April 2025.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

The outlook for the remainder of the financial year remains subdued due to a modest pipeline of work, but the company is focused on cost control and efficient use of working capital. Meanwhile, tender opportunities for new work are on the rise, and the company is working to build a pipeline of future work.