Mayfield Group Holdings (MYG) H1 2025 earnings summary

Executive summary

• Revenue rose 34.4% year-over-year to $52.0 million for the half-year ended 31 December 2024, driven by strong demand in manufacturing, Data Centres, Renewables, and Natural Resources sectors.

• Profit before tax was $2.81 million, up slightly from $2.78 million in the prior year, while profit after tax fell 28.6% to $2.0 million due to higher tax expense, including a non-cash component.

• Work in Hand reached a record $95 million as of January 2025, reflecting robust order intake and future growth potential.

• Operational investments in manufacturing, sustainability, and business development supported growth and future capacity.

• Record work on hand and expansion plans for Western Australia signal continued growth.

Financial highlights

• Revenue: $52.0 million (up 34.4% year-over-year).

• Profit before tax: $2.81 million (vs $2.78 million prior year).

• Profit after tax: $1.98 million (down 28.6% year-over-year, impacted by non-cash tax expense).

• Basic EPS: 2.15 cents (down from 3.07 cents year-over-year).

• Net tangible assets per share: 30.61 cents (vs 30.05 cents prior year).

Outlook and guidance

• FY25 revenue expected to exceed $100 million with increased PBIT.

• Expansion of manufacturing capacity in Western Australia underway to meet strong order book.

• Focus on supporting Australia’s energy transition, digitisation, and sustainable growth through LEAN manufacturing and new product development.

• Continued growth anticipated through FY26, with strategic acquisitions under evaluation.

• Targeting high-growth sectors including defence, data centres, and renewables.